What’s Your Timeframe? (Article)
What’s Your Timeframe?
When it comes to your investment strategy at times like these, the first question you need to answer is about your time frame for needing the money you have invested. If you need any of it in the next twelve months, we recommend selling that amount immediately and holding it in a money market account. If your time frame is longer, there’s a good chance you’ll be better off hanging on. If you’re investing via a 401(k) or 403(b) plan, remember, your regular bi-monthly contributions are “dollar-cost-averaging” your cost basis lower which will help boost returns once the rebound occurs. So, the first step is to assess your time frame and then take action, if needed.
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