Texas Tech University

Suffering Through Your First Financial Crisis? Read This to Relax

The New York Times

March 15, 2020

The New York Times - You already know the rational steps to take during a financial crisis: Don’t look at your 401(k) or investment accounts. Don’t stay glued to CNBC or the financial press. And, above all else, do not panic-sell your investments.

Deena Katz Evensky, professor emeritus in the department of personal financial planning at Texas Tech University: “Panicking will only create more sleepless nights for you. Maintain a ‘buy and hold' mind-set. The best thing you have going for you right now is time. Don't try to time the market. You must stay in the market to get market returns. Remember, you are buying companies, not just stock. Businesses are still running and the world is still operating.”

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