I follow the news closely.
The amount I owe on my mortgage is right around $100,000, as well.
What Im wondering is, should I withdraw my investments now and use it to pay off my mortgage?
I have no other debt besides my mortgage.
Is this a good strategy?
But even smart people have bad ideas on occasion.
This is one of those times.
Youre right that thestock market is going to crashagain because crashes are completely normal.
A bear market, defined as a 20% decline, happens roughly once every seven.
Historically, the market has always recovered over time.
My advice to you would be a lot different if you were 58 or 68.
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And yet, I get why youre tempted to do what youre suggesting.
In unpredictable times, we all want certainty.
Meanwhile, the stock market is a gamble if youinvest based on daily fluctuations.
Over the longer term, your chances of success are much higher.
In a 10-year period, youll get positive returns 94% of the time.
What you’re able to do is make the next crash as painless as possible for you.
That way, you wont need to tap your investments if you need cash right after the market tanked.
COVID-19, American politics and climate change all present very real reasons to worry.
Your answers are used to determine how aggressively your money is invested.
confirm the answers you chose accurately reflect how you feel about the possibility of short-term losses.
You normally want to invest aggressively in your 20s and 30s.
Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder.
Send your tricky money questions to[email protected].
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