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Buy Low, Sell High Makes Stock Market Scares Easier to Bear
The news from Wall Street is scary right now, and Bush's state of the union address tomorrow night will definitely talk about the economy. With all the scare and house market crash and everything else right now, it's easy to be alarmed. But the old adage about "buy low, sell high" will keep your blood pressure down. I was a twentysomething when the dot com bubble burst. I could've flipped. Instead, I said, "oh, great! Time to invest." I said the same thing last Tuesday, and invested a little when I saw a 300 point drop. Sure enough, the next day the market rebounded 600 points. I'm not a stock market guru or a big investor. I'm just a teacher and a grad student. But it works, even with small amounts. Of course, it's hard to do this if you're paying off debts or bills and living on the edge of your means. But see what you can do to keep some $, even a thousand dollars or so, in a "do not touch" zone. Then invest it whenever the market drops. Getting an account with a well-respected mutual fund company like TRowe Price or Edward Jones (I've done well with the latter) ensures you won't lose everything on one stock. Make sure you won't need the money for a while, though, because you won't want to sell when the market's like it is now. |
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