One of the questions that many ask is whether it is time to sell my stock. Deciding when to sell a stock is important, and a tougher call than when to buy a stock. As you consider what’s next for you and your stock, consider the following items:
Don’t Sell Based on Fear
The first rule of investing is to avoid making decisions based on fear. Don’t sell your stock just because the market is crashing and everyone is rushing to unload. Remember: Until you actually complete the transaction, your losses are only on paper. Once you pull the trigger, you lock in those losses. Doing it because you’re afraid and your judgment is clouded can lead to real regrets later. Stick to your financial goals, and consider the consequences of your actions.
David’s Note: While thinking about the lost wealth as paper money might a good way to trick yourself into holding on, when the value of stocks you own goes down, you have lost money whether you lock it in by selling or not. The problem for most people is that they sell their stocks when everything seems to be going down due to fear and buy when things look rosy, which is a recipe for disaster because they end up buying high and selling low. When you are afraid, wait till you calm down, and sit back and write down your investment record. If history shows that you tend to buy high and sell low, then buying and selling individual stocks on your own is not for you. And that’s okay, because there are many alternatives. Pick one, like owning index funds instead, and if the new strategy involves getting rid of your stocks, then do so.
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You can preach the values of frugal living all day long but if you’re not setting a good example, it’s unlikely that your children will take it to heart. What’s more, they won’t be able to learn the frugal skills they need to become financially responsible and environmentally conscious adults.
Here are a few ways that you can help set that example, teach your children important life skills and spend quality time together.
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After the double whammy of an earthquake and Hurricane Irene on the East Coast at the end of August, several of my family and friends are finding themselves with damage to their homes and the daunting task of figuring out how to navigate the red tape of their insurance policy in order to get a claim paid. Whether you are dealing with post-Irene and earthquake damage now or are simply a homeowner who might someday have a claim, here are some steps to take to make sure your insurance company will help you out sooner rather than later:
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Money is useful. If you have a steady supply of money, a lot of other parts of your life will usually be easier. But should money alone justify a career choice?
What Are You Willing to Put Up With?
If I had to, I know that I could do pretty much anything for eight hours a day, at least for a couple of years. I don’t know if I could hold out indefinitely, but I’ve had some particularly awful gigs that lasted months, without flat out quitting. I’m sure most people have found that getting through a painful job every day is possible, no matter how draining it really is.
But a job and a career are two very different things. While most people will wind up with multiple careers over the course of their lives, we’re still talking about years of doing the same thing day in and day out. No one wants to dread going to their job for years on end. On the other hand, if we’re talking about a fairly lucrative career, it seems like it should be possible to enjoy enough of your time away from work to make things balance out.
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Summer has come to an end. The kids are back in school (for many of us) and it’s time to do a little deal hunting. Indeed, with the end of summer, we start to think about ways we can spruce things up a little bit with some merchandise — bought on sale, of course. Here are 5 things you can expect to find great deals on now that summer has come to an end:
1. Cars
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If New Year’s is the time for resolutions, Labor Day is the time to sit back, take a deep breath and decompress. Summer is supposed to be fun and laid back, but for many of us, it’s a whirlwind capped off by back to school craziness. September is a good time to reflect on how much you’ve accomplished in the past year and take some time for yourself. This will help you find the energy and motivation to end the year with the bang.
Since most of us don’t have the option of taking the entire month off and run off to a spa with a life coach, trainer and beautician, here are seven inexpensive ways to help you recharge in September.
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