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Legend of the Law

With Retired Judge Wendy Potts

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Retired Judge Wendy Potts is a Legend of the Law. Wendy discusses her career path from teaching in the Detroit schools, attending law school as one of a few women, her time as a probate judge and...

Addiction, Signs & Recovery

With Aliya Pasik, MS, PA-C, Program Director of the Addiction Recovery Center at the Rochester Center for Behavioral Medicine.

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Aliya Pasik, MS, PA-C, is the Program Director of the Addiction Recovery Center at the Rochester Center for Behavioral Medicine. Aliya addresses the many forms of addiction and substance abuse,...
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Coronavirus Resources

Key Financial  Tips - Don’t Panic!
Laurie Blume
/ 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:

  1. Do not panic. Panic is the enemy.
  2. 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.
  3. It is hard to plan for economic calamity.
  4. Think twice before paying off your mortgage if it uses up a lot of cash.
  5. Do not panic and sell too early. This is how most people get hurt by market downturns. Panic is your biggest enemy.
  6. 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.

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