I’m no longer investing for growth. I’m purely investing for income. Portfolio growth is a good side-effect if I can have it but I’m mainly looking for principal preservation. So, let me ask you, if you’re retired now like me & living off your dividends do days like today give you a scare?

They shouldn’t. If you’ve picked a good strategy to pick solid companies with good balance sheets that can weather storms then you have to trust in your strategy. The price of stocks will always be unpredictable and will move in wild swings from time to time. Heck, I think we’re long overdue for a market correction. What we’re seeing on days like today, in my opinion, is a lot of profit taking.

If you’re investing for growth it’s a good day to make purchases you may have put off. But if you’re investing for income it is a good day to hold your ground and not panic.