How to Restore Lost Cash to IRAs
- 1). Evaluate your current IRA account by printing recent statements. Go back a year or two and see how your stocks or funds have done over that span.
- 2). Research other investment strategies within your IRA. The purpose of this is to see how poorly your investments have done compared to the average. If your stocks and bonds have done above the average, consider sticking with them.
- 3). Diversify your IRA by dividing your investments. A good way to stay afloat in a bad economy is to keep your portfolio diversified. You can add quick cash to your IRA simply by avoiding significant losses.
- 4). Develop an automatic monthly contribution to your IRA. The best way to make sure that money is going in to your account is to make sure that you don't get to touch it first. Set up this contribution so that money is deducted from your checking account or directly deposited from your employer.
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