What Does This Market Correction Mean For Your Retirement Plan?
Stock market corrections are scary, but you can't let them ruin your retirement plan. Rather than letting panic influence your important financial decisions, now's a great time to embrace a balanced approach to volatility and long-term growth.
The smartest move right now is to embrace some time-tested principles based on your personal goals and time horizon.
It's important to understand what corrections are, and how they have typically worked. Most investors define a correction as a 10% to 20% drop in stock market value. It turns into a bear market beyond 20%. Market pullbacks tend to be sudden and steep, and it's easy to feel panic. But investors should understand that these are relatively common events, and they're only temporary.
Source Fool.com