Author and entrepreneur Bernz Jayma P. is the owner of a financial blog dedicated to helping people expand their knowledge on personal finance. You may visit his blog at http://www.Invesmint.com.
When it comes to your personal retirement plans, you need to keep in mind that there are some issues that you need to watch out for. Current issues may be an issue, and you need to allow for those issues if you are going to have a nest egg when you retire.
Obviously, the current recession is one of those issues. The big problem is that it's making some stocks more volatile than they generally would be normally, and so a lot of stock advisers are essentially clueless when it comes to dealing with the situation. This does not mean that you should not trust any advice given, as most of the advice is still good advice, and is still valid. It does mean that you need to recognize that sometimes the advice you are given may be outdated or worthless, and so you need to learn to trust your gut. After all, your instincts may be looking at something that your conscious mind isn't, and that subconscious voice may be aware of something that you aren't.
A word of warning when it comes to dealing with your gut: Treat it like any other asset, and monitor it like you would any other asset. Not everyone's instincts are completely worthy of trust; if you trust yours regardless of how accurate it is, you may be setting yourself up for failure. At the same time, if yours is usually on the money, then it is something you should trust. If you are constantly being made fun of by your friends because of how often you are wrong, then following your instinct may be a bad idea. Otherwise, it may give you vital information on a current situation.
Otherwise, playing it conservatively may not be a bad idea right now. Although taking reasonable risks may be acceptable, taking too many risks in a volatile situation may eventually work against you, and cost you everything. Just remember to cover your bets, and keep your head down. For now, you need to keep in mind that rapids will eventually end, and you just need to be able to last until then; if you can last until the rapids are in the background, there will be a number of rewards for you, not the least of which is that you kept your money. When the recession is over, you need to be able to reap the rewards, and be ready for a return to interesting times!
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