I am convinced the Greek debt crisis will create an investing opportunity. However, whenever I've had this mindset in the past, I started investing right away and quit before the bottom because the pain was too great. Case in point: The May 2013 Taper Tantrum. I started buying right away, and kept buying into the decline. However, it took over a month for the pullback to complete. By the bottom, I was feeling enough market pain to stop buying.
When the decline starts this time, I plan to only buy those stocks I was considering last week, but haven't purchased yet. These stocks are dividend paying stocks and part of my strategy to create a steady source of retirement income. After these purchases, I will wait until the stock market pain is very high (at least a 10% decline) and then start making the additional purchases.
For more on New Beginnings, check back Sundays for a new segment.
This is not financial advice. Please consult a professional advisor.
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