How You Can Prepare For The Next Stock Crash – 4 Things You Can Do Right Now
Chances are you are here because you are concerned about the future of your financial assets. Or maybe you are just full of anxiety over the direction in which society is moving. Either way you are not alone. Millions of people all over the world are highly concerned about the financial crisis that seems to be taking place all over the world.
If you are wondering how you can prepare for the next stock crash, keep reading as you will discover 4 simple things you can do right now to prepare for what's coming in the very near future.
#1 – Get Out Of Debt
When a stock market crash hits, those with the least amount of debt will be affected the least. Now is the time to get control of your debt. Pay off your credit cards and any other debts you have.
#2 – Protect Yourself
If you are retired chances are you don't have enough income to weather the storm in the event of a stock market crash. To avoid having to sell stocks and lose money, make sure you have enough money in short term investments to cover all of your living expenses for 2 to 3 years. To make this happen you may need to look at your investment portfolio and see what positions you can start trimming right now.
#3 – Rebalance Your Portfolio
If you are like most investors you haven't touched or even looked at your portfolio in years. When the stock market has crashed in the past, those who didn't take the time to rebalance their portfolios suffered very significant losses. This is because their exposure to stocks was a lot higher than they realized.
Rebalancing your portfolio ever year or two can help you avoid significant losses in the event of a stock market crash.
#4 – Make A Wish List
When the stock market crashes everything goes on sale. That means it is the perfect time to buy stocks. If you have your wish list prepared in advance you can cash in big time when the market crashes.
For some investors putting more money into stocks they already own may be enough. For others a stock market crash is the best time to buy up stocks that were previously too expensive. No matter which option you choose, having a wish list prepared in advance will help you take advantage of growth opportunities that come along with a stock market crash.
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