The worst thing that you can do in a global financial crisis is not sticking to your plan. In 2008, we saw far too many people pull their investments out of the stock market during the recession at the lowest points.
This will lead you to selling stocks and mutual funds when prices are low and having to repurchase your investments when times are better and ultimately prices are higher. The best thing you can do is to continue on your financial plan that you established.
Worst Things You Can Do In Global Financial Crisis
A Declining Market Is Not The Time To Sell
Trying to time the stock market’s rise and fall can cost investors thousands in lost profits. Inevitability, timing the market does not work and you enter and exit the stock market at preciously the wrong time costing you profits or increasing your losses.
Not only do you have to time your exit when you are timing the stock market, but you also have to time your reentry back into the stock market as well.