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Why You Shouldnt Sell Right Now

This video will tell you why you shouldnt sell right now even though the stock market crash 2020 is unfolding. After watching the stock market news today in the USA, people are talking about the stock market crash 2020 and what to do. So many people are panic selling out of fear and not looking at the whole picture. This video will look at it from a different perspective and explain why you shouldn't sell right now. 👍 Don't forget to give this video a thumbs up if it was helpful. I really appreciate it! If you are looking for side hustle ideas to make more money check out this video:    • 30 Unique Side Hustle Ideas When You Despe...   If you want to learn how to create a super simple budget then check out this video:    • How to Create a Super Simple Budget That W...   👉 Don't forget to subscribe so you don't miss any of the 3 weekly videos posted on money, saving, and investing:    / @hackingtheratrace   Hey everyone! Today I'm going to tell you why you shouldn't sell right now, I know that the market is going way down and there's a lot of panic and there's a lot of uncertainty and a lot of unknown. In this video, I want to go over why you shouldn't sell and you shouldn't panic. First thing I want to say is, don't just listen to me, I'm not a financial advisor, please go talk to your financial advisor. This is not financial advice, as much as is just my opinion. So you definitely need to talk to a financial advisor. In this video, I'm going to break down first kind of the perspective how to look at this and how maybe we are currently looking at this incorrectly or maybe another way to look at this. Then I'm going to talk about the reasons why you shouldn't sell based on that perspective shift, and lastly, there are a couple of scenarios where it might be a good idea to sell at the end of this video I will go through those. So let's get started. So the first thing I want to do is look at this from a different perspective, I think looking at this from this perspective will help you get some clarity and understand why you probably shouldn't sell and again before you sell, or you decide not to sell, if you're really if this is weighing on you, I definitely recommend you talking to your financial advisor. But here's my perspective. Often times people look at their investment account, like a bank account, like they are one in the same, which is why so much panic happens when the stock market starts going down. So for a bank account, let's just talk about that for a second. So for your regular bank account, any day when you check your bank account, that is how much money you actually have in that bank account, how much money's gone in, out, total number, that is the value of your bank account and how much money is actually in there. Okay. Now, an investment account is different, it looks the same, right? Because you open it up and you see $1 amount when it goes up, you're excited, and when it goes down, you're bummed, and when it goes way down, people panic. But here's the thing. It's not the same as your bank account at all, and so I want to give you another perspective in the way to look at this, I want to compare it to a house, a property, right? Because it is actually a lot more like a property than it is like a bank account and let me show you what I mean. So if you bought a house for $150,000, let's just say the house that you're living in, right? A lot of people buy houses, let's just say three years later, the market just jumps up and now your house is worth $250,000, and let's say four years later, something happens and the market goes down and your house is worth $50,000. A lot of us don't even really think about it. I mean, sometimes we're like looking in the paper, we see that values are going up or down, and it shows some concern, but you're living in that house, right. It's your house and If that house is worth $250 tomorrow, or $50,000, the next day, that's not actually how much money you have, you still have a house, that is the value of that house, right? And until you actually need or want to sell that house, that's the only time that value really matters. So if you go look at your investment account, right, and over time you have purchased shares, either shares of stocks, shares of index funds, whatever it is, you've purchased shares, when you're looking at your investment account, you're looking at the shares that you've purchased, and if you've purchased them over time, like you put a little bit of money every month into your investment account, then that maybe one day you bought a share at $50 one day you bought a share at $100. One day you bought it at $75 whatever it is, you have X amount of shares right, similar to the house. So you have a house and you have shares it is very similar in that way.