7 INVESTING tips for the next market CRASH

In this video, I’m going to be going over what steps you can take before the next market crash.
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The number 1 thing you should do before the next market crash is to have an emergency fund. This is one of the easiest things you can do to make sure you’ll last through a stock market drop and you hopefully won’t end up in debt.
If you’ve YOLOed your money into a meme stock, there’s a high chance you could lose money during the next market crash.
Ideally your investment portfolio should be diversified across sectors, asset classes and countries. The more you spread out your money, the more you reduce your risk and volatility.
As doom and gloom headlines start rolling in, it’s very tempting to wake up every morning and check your portfolio.
And then stress out because everything is red and your investment is down. Staring at your laptop or phone isn’t going to magically will the stock market to rally back up.
It’s only going to make you panic, stress and potentially cause you to make bad decisions.
Please don’t make the mistake I made and panic sell during a market crash.
Study after study shows that the best thing you can do is keep investing regularly and hold.
In a market crash, where everything is turning red and there’s negative signs everywhere, it can be incredibly scary to continue investing. It can be even scarier when you’ve decided to stick to your plan and buy more shares and then the market keeps dropping and dropping and dropping.
In situations like this, dollar cost averaging is your best friend because long term, it’s one of the best ways to build wealth BUT only if you stick to it.
For most people their main source of income is their salary and it’s often their only source of income. During a market downturn,
If you want to build wealth and become financially secure, it’s important to build multiple streams of income.
But don’t just take my word for it, a US study showed that self-made millionaires have multiple income streams: 65% of self-made millionaires had three streams of income.
The last thing you need to do before the next market crash is to think long term when it comes to investing in the stock market.
If you NEED this money in say 3-5 years - then it’s probably not a good idea to invest in stocks or index funds. Research shows that when you hold stocks for a short period of time, your odds of losing money are much higher, conversely the longer you hold an investment, the better your chances of making money.
0:00 Intro
0:27 Have an emergency fund
1:13 Diversify, diversify, diversify
2:17 Stop checking your portfolio everyday
2:55 Don’t panic sell
4:09 Keep investing
6:40 Build multiple streams of income
8:28 Think long term
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Disclaimer: I am not a financial adviser, I am not an accountant, I am not a tax adviser. This video and my channel is for general information only, as with anything in life you should do your due diligence and seek independent advice.
👋 WHO IS CHRIS CHOW 👋
Hello! My name is Chris, I'm a marketing manager working in Sydney, Australia. I have worked at Apple, Microsoft and HP in a variety of marketing roles. I make videos about personal finance, investing and saving money.
#MarketCrash #Investing

[@appan6643]

Great video! 😀👍

[@ChrisChowShow]

Thanks for watching!