Be prepared for market downturns from "summary" of Investing for Dummies by Eric Kevin Tyson
It's important to understand that the stock market doesn't always go up. In fact, market downturns are a normal part of the investing cycle. This means that at some point, you will likely experience a decrease in the value of your investments. To protect yourself from the impact of market downturns, it's crucial to be prepared. One way to do this is by setting up an emergency fund. This fund should contain enough money to cover your living expenses for at least three to six months. By having this buffer, you can avoid having to sell investments at an inopportune time simply to cover your bills.
Another way to prepare for market downturns is to diversify your investments. This means spreading your money across different types of assets, such as stocks, bonds, and real estate. By...
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