Just because the stock market is tumbling, don’t panic, said Ann Newman, a director of BetterInvesting’s Georgia Chapter, who was recently interviewed on “The Dee Armstrong Show,” on NBC affiliate WLTZ of Columbus, Ga.
“Do not start selling things off things are going to come back. Just look at the history of the market,” said Ann, who’s the immediate past president of the chapter.
“It comes back, but now things are on sale — if you’re picking good-quality growth stocks on sale.”
She suggested that beginning investors consider joining a club so that they can learn the ropes with the help of others: “In a club, people are there to mentor and teach you.”
For a free webinar series on investment clubs, click here.
Ann was on the program to discuss whether parents should lend significant sums of money to adult children and how to set guidelines for such loans.
Rather than lending money, she suggested the best help a parent might give their adult children is to start a tax-advantaged college savings fund for their grandchildren, such as a 529 plan, with investment options such as mutual funds.
BetterInvesting is a national nonprofit organization that has been empowering individual investors since 1951. Founded in Detroit, the association (formerly known as National Association of Investors Corporation) was borne out of the conviction that anyone can become a successful long-term investor by following commonsense investing practices. BetterInvesting has helped more than 5 million people become better, more informed investors by providing webinars, in-person events, easy-to-use online tools for analyzing stocks, a monthly magazine and a community of volunteers and like-minded investors. For more information about BetterInvesting, visit its website at www.betterinvesting.org or call toll free (877) 275-6242.