With markets around the world declining further by the day, I've been very busy at work and unable to post much recently.
Markets have fallen further and faster than I've expected and I suppose that shouldn't be a surprise but this is clearly presenting a once in a lifetime buying opportunity in equities for those with cash on the sidelines.
Here is a list of the best things you can do right now to position yourself for future investment success:
1) Stay true to your personal risk tolerance. Now is not the time to mess around with your overall risk level unless you can devote more to equities. Be honest with yourself about your risk tolerance. Can you handle a 10,20,30,40+% decline in your investment value?
2) Set up a systematic investment plan and contribute as much as you can afford to a portfolio that matches your risk level.
3) Develop a plan to meet your goals if you don't have one. Be realistic about your return assumptions and your lifestyle needs.
As always you should pay off unsecured high interest debts before you invest a dime.