Guiding your life’s biggest financial moments

Long-term actions is a book that puts things in perspective, ”said Joseph LaVorgna, Managing Director and Chief Economist for the Americas at French investment bank Natixis. When the headlines are filled with disastrous news and ominous predictions, it’s worth taking a step back and assessing the market like the pros do.

“You want to get away from things,” LaVorgna says. Being riveted to the daily cycle of market news can make you miss the forest for the trees, so to speak.

While market turmoil can be a good opportunity to check your portfolio and make sure your asset allocation is in line with your retirement goals, under no circumstances should you review your retirement fund balance every day. . Long-term actions gives the average investor permission to see the big picture and not worry about the details.

The silver answer book by Dave Ramsey

The silver answer book is an excellent choice for novice investors who want to build on a solid financial foundation, ”said Robert Schmansky, founder of Clear Financial Advisors.

If you’re relatively new to the market – especially if you’ve never survived a correction or a bear market before – normal market movements can seem threatening to your financial stability and can cause people to ditch their stocks. in a panic (never a good idea). If you are feeling helpless and want to do something about it, this book can give you a good foundation.

“So many people who panic just don’t have the basics in place,” says Schmansky. “Ramsey is phenomenal for delivering real action to build short term savings, pay down debt and long term enough.” [savings] to ensure long-term stability.

One Up on Wall Street: How to Use What You Already Know to Make Money in the Market by Peter Lynch

Mitchell Goldberg, president of ClientFirst Strategy, says the best advice for ordinary investors is to keep it simple and not to assume that a more complex investment product is necessarily a better choice for you. He recommends One Up on Wall Street, by mutual fund management legend Peter Lynch, for some insight into how to translate this into a winning long-term strategy.

“He was the first of the famous fund managers in the mutual fund world and he was always an advocate for investors,” Goldberg said of Lynch. “His ideas and lessons are easy to understand. “

Despite Lynch’s accessible platform, however, it doesn’t offer a one-size-fits-all answer, Goldberg adds. “It helps you make your own minds about how to choose investments and how to become a patient investor,” Goldberg said. “His mantra was that the stocks you should buy are the stocks right in front of you.”

Invest in a lesson by Mark Skousen

Even if you are familiar with the stock market at large, a surge in volatility can get on your nerves. Schmansky recommends this book to intermediate or advanced investors who still feel like they need a little bit of advice when the market’s heat maps are all glowing red.

“Skousen argues for intentional diversification, downplaying the ‘bright’ growth stocks that very often lead to market spikes and crashes,” Schmansky said.

Too many investors keep more of their money in stocks than their willingness or ability to take risks would dictate, simply because they don’t know where or how to invest that money. Schmansky says Invest in a lesson, which was released just before the 2008 crash, testifies to a similar dynamic unfolding among investors today. “This book covers current investor concerns about Wall Street, government policy, and the impact of all of this on their 401 (k) balances,” he said.

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