The Trump Blog

The Trump Blog

Ideas and Opinions from Donald Trump and TrumpU Faculty.

Weathering the Market

With the current state of the market, everyone keeps asking me what to do with their money.

My biggest advice is to do nothing if you can. If you don’t need money from your investments over the next couple of years, then don’t sell anything right now. Sit tight and wait it out. If you leave every time things get bad, you miss the point of owning stocks in the first place. The market goes up and it goes down. Right now it’s not looking very pretty, but it’ll get better. The point is to ride out the bad times so you can be there for the good times.

Likewise, don’t mess with your 401(k) or your IRA. If you have a well-diversified portfolio, it doesn’t make sense to bail out now. IN fact, at a certain level, this is the time to start investing. When the market eventually rebounds, having more shares means you’ll make more money.

If you find that you just don’t know what to do and end up panicking, hire professional help. Yes, you’ll pay some fees, but if they’re the right people, it’ll really help you out. And, psychologically, you’ll feel better.

Finally, don’t ignore your debts. When people see their investments lose value, some people worry so much about money that they stop paying their debts. Never ignore your credit cards or your mortgage in the wake of investment issues. But remember, your banker is there for a reason. Go back, talk to him and maybe you can make a better deal. In these times, they expect people to talk to them. Just don’t let your money problems get worse. Then you’ll have a lot more to worry about than the stock market.

Donald J. Trump is Chairman of Trump University.

Permalink |  Email this |  Add to Del.icio.us  Digg it!  Add to reddit  Add Newsvine  Add to Technorati  Add to FURL

4 Comments   Post a comment

[-] Posted by Cheryle on 04/09/2008 7:58 AM
Why are people only looking at the US economy? There are so many opportunities to make money in a global market. Today, more than any other time in the history of the planet, information travels faster than Superman did. Most of it is FREE! The internet, libraries, social clubs and schools offer more advice than Dear Abby did her lifetime. Use it!
How about exporting toilets to South Africa? Maybe the Christians can throw in a few million dollars to help pay the cost. The demand for products is everywhere. Maybe it's time to look over the fence and see what's Not in your neighborhood. Network with other people, and make things happen. Crying is best left to babies.

How about investing in homes for "displaced workers" where they already live before they arrive in the US and join the "underemployed?" Think! There are solutions for problems, and opportunities for the optimist. Which side of the fence would you rather be on?
[-] Posted by member1777158 on 04/10/2008 4:08 AM
Great advise, many people try to micro mange their money when they are looking at long term investments. Relax and just try to stay with the trends in the market not just shorter fluctuations, better for your health too no more stress.
http://www.soho-properties.com
[-] Posted by u279622 on 04/13/2008 4:29 AM
There are always such good advice in your blog,
we should not just learn but do to benefit from it

www.bridgeshairdesigns.com
[-] Posted by member1777460 on 04/17/2008 11:23 AM
I would like to disagree with Donald Trump's advise: "To do nothing with your money." Donald's strategy is not viable from my point of view. In the constantly changing World you have to manage your global investments accordingly. Let us imagine the Board of Directors, which is tolerant to the CEO, who does nothing and / or doesn't care about the corporation's short/long term investment initiatives results. This is nonsense. I am confident that every Board of Directors will let such a CEO go and find another one. The same is true in the case of personal wealth. The wise advise is to apply the best risk management practices to ensure that your investments will be multiplied in the future.


Viktor O. Ledenyov, Kharkov, Ukraine
ledenyov@univer.kharkov.ua
Get the Feed
AddThis Feed Button

Please send me Trump University's weekly e-newsletter Inside Trump Tower and let me know about special offers.


See how you stack up against Donald Trump take our FREE entrepreneurship test.

Blog Roll

Trump's Official Apprentice Blog

Trump U's Marketing Blog

Common Sense Guy

Seth Godin's Blog

How to Change the World

Tom Peters

Pogue's Posts

Beyond Branding

Freakonomics

Marketing Excellence Blog

Clear Blogging

Rajesh Shakya

 

TrumpU Books

Trump Wealth Building 101 Trump University Wealth Building 101 Your First 90 Days on the Path to Prosperity

Trump 101 Trump 101 Author: Donald Trump Publisher: Wiley

Trump Marketing 101 Trump University Marketing 101 How to Use the Most Powerful Ideas in Marketing to Get More Customers

Trump Real Estate 101 Trump University Real Estate 101 Building Wealth with Real Estate Investments

Trump Entrepreneurship 101 Trump University Entrepreneurship 101 How to Turn Your Idea into a Money Machine

Trump Asset Protection 101 Trump University Asset Protection 101 Tax and Legal Strategies of the Rich