In keeping with my "steal shamelessly" theme, I'm providing a guest post from fellow advisor David Waldrop, CFP®. David is the President of Bridgeview Capital Advisors, Inc. in El Dorado Hills, California. David focusses on helping his clients organize and map their financial resources to their financial goals so that they can achieve long-term success on their terms. He's also a great inspiration. Enjoy! It is human nature to avoid danger. When confronted by it, we are forced into a fight or flight situation. However, when it comes to managing our investments, it can be hard to resist these instincts. There is no doubt about it. Seeing negative returns on your investment account statement is painful. With a constant stream of scary headlines and the last financial crisis fresh in our minds, you have the ingredients for a very stressful situation. Few people can shrug it off completely. If you can, kudos to you. For many, seeing these negative values on a statement causes the fight or flight reaction and often, this can be the undoing of their long term investment plan. Doing nothing runs contrary to our instincts. But if you can do just that and avoid the investing mistakes below, you will be better positioned to weather the latest storm in the financial markets. Here are three mistakes long term investors make when markets get rough:
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