Photo: A view from my personal capital dashboard. As you will see, the value of my stocks are dropping.
Monday, August 24, 2015 is being called another "Black Monday." The stock market dropped and I heard lot's of people worried about the drop. This drop has happened before and the stock market has always recovered. I felt like I should type an article of advice to help anyone worried about the dip in the stock market.
Should we be worried?
No, you should not be afraid of this stock market downturn. This has happened many times in history and the stock market has always recovered.
How should I handle my stocks?
You should hold on to all of your stocks! Don't be afraid to ride the ups and downs of the market. Look at this tweet from Dave Ramsey. He put it really well.
Looks like Stocks are on SALE. The only people that get hurt on a roller coaster are those that jump off. I will buy this week.— Dave Ramsey (@DaveRamsey) August 24, 2015
Dave Ramsey makes a good point. The stock market is kind of like a roller coaster. The stocks go up and the stocks go down, but by staying in it for the long haul, then you have a great opportunity grow wealth.
Should I still buy stocks?
Yes! Buy lots of stocks and then buy some more. Stocks are on sale, so this is the best time to buy stocks! Go out and buy, buy, buy!
Another financial guru, Mr. Money Mustache wanted a downturn so bad that he tweeted the following:
Can we please get a huge stock market crash one of these days? I was hoping that this Greek drama would bring the rain, but no luck yet.— Mr. Money Mustache (@mrmoneymustache) July 3, 2015
As you can tell, most financial gurus believe that downturns in the stock market are the best way to buy stocks on sale. So, don't let this stock market downturn or any stock market downturn let you get worried about your retirement. Ride out all downturns and buy stocks when they are on sale!