ER Doc Advisor - Financial Planning & Taxes for Emergency Physicians

EP 86: Five Actions To Take During a Downturn

We recently did a podcast episode titled, “Should You Be Concerned About A Recession?” where we got into the history of market downturns and what those tell us about what is going on today. The conclusion? Markets reward those who stay disciplined when it’s hardest to do so. Basically, inaction is the best course of action. But say staying put isn’t for you – are there actions that you can take when the markets are volatile to lessen the blow of losses and even position yourself better for when things improve?

In this episode, we’ll go over 5 actionable tips you can do to improve your investment situation, even in a downturn.


Topics Discussed:     
  • The actions you can take to lessen the blow of investment losses.
  • The ease of transactions with cryptocurrency.
  • When the market generally recovers.
  • Why you should be aware of the narrative that is being told to you through the media.
  • The benefit of rebalancing your portfolio during a downturn.
  • The value of looking into Roth conversions.
Resources Mentioned:

Tags

planning, financial planning, ER doctor, doctors, finances, investments, downturn

by 
Scott Wisniewski, EA