GREENWOOD ACQUIRES THE GATHERING SPOT, CREATING THE LARGEST COMBINED FINTECH AND COMMUNITY PLATFORM FOR BLACKS AND MINORITIES. Learn more.
The market has shown its drastic ups and downs over the past couple of years. Especially this year.
*Listen, I am in it with y’all, my 40(k) and brokerage account is crying right now.*
The key here is not to make an emotional decision when it comes to investing—be a disciplined investor. If you are checking your financial statements monthly and see market depreciation of a large sum, just know that this is considered a paper loss. This is not a true realized loss until you sell those holdings.
If you feel you are making an emotional reaction based on what you are seeing and have a long run way until retirement, then you may want to reconsider if now is the right time to sell those holdings.
On the other hand, if you were buying and selling stocks last year due to your investment strategy or needed the funds, then you should have received a Consolidated 1099 statement which provides info on your gains and or losses from the trades you placed. These are called realized gains or losses.
Navigating the stock market can be tricky—as you continue to build your team, make sure to have a certified financial planner guiding your way.
Rianka R. Dorsainvil, CFP®️ is the Co-Founder and Co-CEO of 2050 Wealth Partners a virtual, fee-only comprehensive financial planning firm dedicated to serving first-generation wealth-builders, entrepreneurs, and thriving professionals. Rianka also hosts 2050 TrailBlazers, a podcast aimed to address the lack of diversity in the financial planning profession by engaging industry experts and leaders in conversation.
As an award winning successful, millennial Certified Financial Planner professional, Rianka offers a unique perspective not only on the current state of the financial service industry, but on how to stay relevant in an ever-changing world.
Rianka serves as a member of CNBC’s Digital Financial Advisor Council and CFP Board’s Diversity Advisory Group, is a Forbes Personal Finance Contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations such as Investment News’ inaugural 2017 Women to Watch Rising Star and Wealth Management’s Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women’s Health, and more.