Make a Down Market Work For You
Okay, so your investment value took a hit in the recent market plummet. With a bull market that extended over ten years, hopefully this wasn’t a total surprise. I’m not sure anyone thought it would drop 30%, and no one knew of the exact timing, but if you followed our blog and looked to market history for indications and insights of what was to come, a market correction of some type was not off your radar. Hopefully you had a financial plan that considered this and were comfortable with your risk tolerance and any unrealized losses that you incurred. Now that your portfolio is down, what can you do? While nothing is a blanket statement that can be applied to everyone, there are some strategies you can consider. Be sure to speak with your advisor to see if either of these tactics could work for you. Roth Conversion: Many people contribute to a traditional IRA or a traditional 401(k). The way these registrations are structured provides for contributions to a retiremen...