When the markets give you a correction, it’s time to turn lemons into lemonade. Forbes Best-In-State Financial Advisor Cary Stamp of Jupiter, FL offers three strategies that you should consider during a market downturn.
- Converting from a traditional IRA to a Roth IRA is a taxable event. For a comprehensive review of your personal situation, always consult with a tax or legal advisor.
- Neither Commonwealth Financial Network® nor any of its representatives may give legal or tax advice. Passively managed funds, such as index funds typically invest in the same securities that make up a particular market index in an attempt to match the performance of that index. Because there is less work involved with managing passive funds, they tend to have lower fees than actively managed funds and does not have a management team making investment decisions. The fund manager creates a fund portfolio that includes most, if not all, of the associated index’s holdings with the goal of trying to achieve the same returns as the index and typically hold onto their underlying securities for the long run. Long-term growth and portfolio diversity, which can help minimize risk, are key advantages of passively managed funds.