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Laurie Blume / Wednesday, March 11, 2020 / Categories: Financial, Money Management Key Financial Tips - Don’t Panic! Remain Calm in Turbulent Times Here are a few financial tips for those of us who are Gracefully Greying adapted from the Financial Manager and AARP Magazine: Do not panic. Panic is the enemy. Diversification is your safety net. Make sure that your money is spread among different types of investments, such as U.S. stocks, foreign stocks, bonds and publicly traded real estate trusts. Investing in mutual funds is safer than buying individual stocks and bonds. It is hard to plan for economic calamity. Think twice before paying off your mortgage if it uses up a lot of cash. Do not panic and sell too early. This is how most people get hurt by market downturns. Panic is your biggest enemy. Do not be overconfident either. There are always down turns in the market. The four most dangerous words when the markets have been strong for a long time: “This time it’s different.” Another good read is Suze Orman's article 10 Steps to our Ultimate 'Retirement, published in AARP. Another important read is published by U.S. News & World Report, What the Coronavirus Means for Your Retirement Finances. Print 38150 Tags: Financial Financial Planning Related articles A Tale of Two Losses: Your Memory & Your Money Can't Pay Your Taxes? The Perils of Caregiving: Protecting Finances Choosing A Financial Advisor Daily Money Management The Cost of Long-Term Care Reverse Mortgages for Seniors Saving for the 3 Stages of Retirement Seniors and Reverse Mortgages Don't Panic!