If you’ve got money in the stock market and haven’t checked your statements lately, you’re in for a pleasant surprise.
In mid-March of 2020, the Dow Jones Industrial Average closed below 20,000. As I write this, a bit more than a year later, it’s more than 34,000. That’s a gain of 70%. The tech-heavy Nasdaq index has done even better: It’s nearly doubled.
But as they say, what goes up must come down. Maybe not today, maybe not tomorrow, but trees don’t grow to the sky.
So, what’s an investor to do? If you sell, you could be leaving money on the table. But if you don’t sell, all those profits may one day seem like a pleasant dream.
While there’s no perfect solution, there are some techniques to protect your profits, or at least prepare for the inevitable. That’s what this week’s “Money!” podcast is about. We’re going to talk about some things you can do to keep from surrendering all those tasty gains.
Sit back, relax and listen to this week’s “Money!” podcast:
Not familiar with podcasts?
A podcast is basically a radio show you can listen to anytime, either by downloading it to your smartphone or other device, or by listening online.
They’re totally free. They can be any length (ours are typically about a half-hour), feature any number of people and cover any topic you can possibly think of. You can listen at home, in the car, while jogging or, if you’re like me, when riding your bicycle.
If you haven’t listened to a podcast yet, give it a try, then subscribe to ours. You’ll be glad you did!
Want more information? Check out these resources:
- “8 Ways to Protect Your Retirement Savings“
- “15 of the Best Money Moves You Can Make in 2021“
- Motley Fool: “4 Strategies to Prevent a Stock Market Crash from Ruining Your Retirement“
- U.S. News & World Report: “Protect Your Portfolio from a Market Crash“
- Investopedia: “6 Ways to Prepare for a Market Crash“
- U.S. News & World Report: “7 Ways to Hedge Your Portfolio Against Volatility“
- Newsweek: “10 Ways to Protect Your Portfolio From the Volatile Stock Market“
- Nerdwallet: “What to Do When the Stock Market Crashes“
- Bloomberg: “How Stock Traders Are Racing to Protect Gains Against Market Threats“
- Money Talks News’ savings account search tool
- Subscribe to the Money Talks News newsletter
- Take our course The Only Retirement Guide You’ll Ever Need
- Take our course Money Made Simple
- Miranda Marquit’s website
I founded Money Talks News in 1991. I’m a CPA, and I have also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.