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Expert's stock trading advice for troubled times

 

Here are some financial steps to take in uncertain times offered by Greg McBride of BankRate.com, Joe Hurley of SavingforCollege.com and Brent Collins of SmartStops.net.

1. Rebalance your portfolio. Sell some of anything that has gone up and buy more of what has gone down.

2. Buy shares in your 10 ''most-wanted'' stocks that you never bought because they were too expensive.

3. Move money from a taxable brokerage account in a child's name into a 529 college-savings plan. Market declines will make the capital gains low on the sale and might trigger a capital loss. The strategy allows you to move the money into a tax-free 529 plan.

4. Build up your emergency savings to six months of expenses.

5. Create an exit plan for selling a portion of your holdings in stocks, exchange-traded funds and mutual funds. Sign up for online services at SmartStops.net or Morningstar.com that will alert you on targeted lows.

 

Get the full article here.


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