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David Holland, CPA, CFP®, hosts PlanStrongerTV™, a financial variety program featuring fascinating guests and a wide array of topics – from the psychology of money to retirement planning to estate planning. Make David Holland your source for interesting information that affects your pocketbook and helps you PlanStronger™ for your financial future.
Watch a promo for an upcoming episode below or click on More PlanStrongerTV™ to explore more previews and guest interviews from episodes of PlanStrongerTV™
David Holland is an author and a financial columnist.
David Holland writes a weekly column on personal finance. You can read his latest column, or peruse the Archives, at www.HollandColumn.com. David has written columns on a wide variety of topics related to retirement planning and managing your personal finances. In the Archives, you will find valuable information (in plain English!) on retirement income planning, investing, life insurance, long-term care, and many more financial topics. These are issues that affect almost everyone.
By David D. Holland
As the major stock market indices post gains and reach new all-time records, it is natural to wonder if a correction is coming. What goes up, must come down, right? At the time of this writing, the current bull market (that started in March of 2009) is now the second-longest in recent US history. So, what do you do if you are afraid that a drop is just around the corner? Here are some options to consider:
1. Go to Cash. If you believe that a market drop or crash is imminent, then sell. If you can’t sleep and you’re a nervous wreck, then go to cash. What’s the worst that can happen? You miss out on some additional gains? What if you don’t go to cash and we have a large drop? You’ll be kicking yourself, especially if you are retired or nearing retirement. With all this said, there are consequences to “selling out.” If you sell holdings in a “non-qualified” account (not an IRA, 401(k) or other tax-deferred retirement account), you will likely incur capital gains, and there could also be transaction costs.
David has also written two books in his Confessions of a Financial Planner series: Secrets to a Secure Retirement and How to Get Great Advice & Avoid Financial Scams. The mission of this series is to provide easily accessible information on a wide variety of topics concerning personal finance. Everyone is affected by money issues and, yet, there are few resources available to answer even the most basic of questions in Plain English. It is David's goal to write books that anyone, from any walk of life, can pick up and relate to. He keeps it simple and doesn't use industry jargon to talk over the reader's head.
Holland Financial can help you review your options. Don't let a simple mistake prevent you from receiving all the benefits you've earned. Call 386-671-PLAN(7526) for your one-on-one appointment. We can do a personalized analysis for you.
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