NYS Deferred Compensation Plan: Avoid Headline-Driven Investment Decisions
Read the letter below from Mark Wallace at Nationwide.
Hello! I’ve missed seeing you at your work location! When the market is changing, I know it can be easy to get caught up in the moment and make decisions that could hurt in the long run, so let me help.
A key point to remember: No matter how much your account value drops in the short term, it’s not an actual loss unless you sell. History shows that investment markets have grown over time despite short-term losses and volatility. In fact, these fluctuations tend to create opportunities that may lead to greater earnings over time. You may have even seen this occur in your own NYSDCP account.
The main thing to remember is that short-term market changes are less important if your long-term strategy is sound, so here are some principles to help you avoid emotional investing:
Have a plan. Log into your account to use My Interactive Retirement PlannerSM to set personal goals and decide how to reach them.
Know your style. Log into your account to Use My Investment PlannerSM to better understand your investment style and choose the asset allocation model that is right for you and your long-term goals.
Stay cool. Keep contributing to your retirement regularly from your paycheck, so you never miss out on market opportunities. You’re using dollar cost averaging to help reduce the effects of market volatility over time.
Would you like to schedule a Phone or Online Virtual appointment? Please click the link below to access my scheduling tool.
Call me. Let’s discuss your NYSDCP retirement account and long-term investment strategy.
Senior Account Executive
NYS Deferred Compensation Plan
posted by tbieber [2020-09-28]
Office of Human Resources: (585) 395-2126