The Forum for Investor Advice urged investors today to keep their focus on their long-term goals, which is the real secret to successful investing. The bear may be growling, but it doesn t necessarily have to bite you. Declining markets demonstrate the importance of working with a professional financial advisor and investing in diversified instruments such as mutual funds, according to Barbara Levin , executive director of the Forum. Or find one if you do not have one.
Most financial advisors know a lot about declining markets.
At a time like this, the worst thing an investor can do is panic. Keep your focus on why you invested in the first place. Investors who have a financial plan in place and a long-term horizon should keep their eye on their goals. Nobody knows how long a bear market might last. In the 1970s, the bear market began in January 1973 and wasn t over until October of 1974.