The 3% Drop: Did You Fall into the Investor Trap?
On this Best of Simply Money podcast, Amy and Steve Sprovach take a deep dive into a mistake some investors made three weeks ago that they might not recover from. Did you make this mistake? It all started on August 5th when the S&P 500 dropped 3% after a negative jobs report for July. Even if you don’t recall the date, you probably remember the sinking feeling of checking the markets and seeing that drop. So, what did you do as an investor that day?
Steve shares how, even in retirement, that drop caught his attention and got him thinking about a potential market correction. We’re discussing why sometimes doing nothing is the best strategy and how reacting to negative press can lead to bad decisions.