Today I want to talk about something that's on a lot of people's minds at the moment – a concern I've heard from a lot of readers lately…
That is the prospect of a market crash in the weeks ahead.
Now, a crash is possible. The reasons why range from COVID-19 (the novel coronavirus) to the upcoming presidential election to another terrorist attack.
However, it's important to remember that nobody knows for certain what's going to happen. So do not let these – or any – uncertainties throw you off your long-term investing plan or cloud your thinking. Remember that making investing decisions based on emotion can lead to big losses.
What's best to ask is whether a market crash is probable. This allows you to prepare ahead of time for the unknown, which makes all the difference.
Take the coronavirus. Many analysts are calling it a black swan event, meaning it's unpredictable. But at this point, I think it's more like a "gray swan" – we know this thing is coming.
Well, I don't particularly like surprises. And this all leads to me to think there's another shoe out there getting ready to drop. Some folks may or may not share that opinion, but what we do share is the desire to future-proof our portfolios and our wealth.
So here are the steps to take to ensure both are protected…
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.