‘Don't panic, don't make changes': Advice for Canadians watching savings shrink during market chaos [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
“The average Canadian shouldn't really be doing anything. If you look over the course of the last 70 years, these things happen about four times a decade,” said Langley financial planner Peter Cishecki. “Don't panic, don't make changes. You can't time the market, and the best thing is to not make an emotional decision.” Cischecki doesn't recommend everyday investors stick their head in the sand -- the ostrich approach, as he calls it -- but to remember investing for retirement or your children's education is a long-term, big picture savings scenario. “People have to remember you have not lost anything if you do nothing. The value of your account has dropped versus what it was the day before if you'd sold it the day before or if you sell it today. But if you do
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