Another big drop in the markets today. The TSX fell a bit more than four percent and the American S&P500 dropped almost seven percent today. I’ll admit I wasn’t too upset that my “flat” prediction I made after the S&P downgraded U.S. government debt was very wrong, since I was able to do some more buying.
Today’s market drops were bigger than last Thursday and add on to what has been a couple of very bad weeks in the market.
It might be tempting to bail out of the markets if you are nervous about your investments, but that would be a mistake.
Stay the course.
Don’t sell anything and keep on making your regular contributions.
Here is a post I wrote back in 2008 about how to handle market volatility which still holds true today.
Want to learn more about RESPs? Buy The Book:
The RESP Book: The Simple Guide to Registered Education Savings Plans
Everything you need to know about RESPs.