The only constant in the stock market is that it is always changing. When it begins to seesaw it’s easy to go into panic mode and wonder what to do next. Before going into a scramble, take a look at these career decisions to make when the stock market is seesawing:
When to make a career change
Sometimes when markets are soaring, consider changing careers. This may seem like a ludicrous idea at first, but switching careers when markets are up means you’ll be selling stocks at top-dollar. Stocks being up can also mean you are due for a promotion or a raise. Soaring stocks mean happy shareholders, which could get you the raise you’ve earned. Asking for a promotion is always in the cards when the markets are up. If your company is doing well due to your hard work, ask for a promotion to excel in your career.
The market going down is also a good time to consider a career change. If stocks are down, maybe look into a company or career with stable stock prices. If the pressure from shareholders is too much to handle, consider other companies. A career change could sound scary at first, but it could lead to a great exploration of the job market or a more diverse portfolio.
When to start investing
Investing in the stock market can be tricky. There will be times and opportunities that are optimal to make an investment and others that can damage your career. If the stock market is down and stocks are cheap, consider making an investment. While stocks are low, take a chance on them. If you choose to leave your company or make a career change, having stocks to fall back on would be ideal.
Investing in your company is another career decision to consider when the market is seesawing. Again, when the markets are down then stocks are cheaper. If the company had a solid standing even when the market is down, it’s a good idea to invest. There are some companies that offer employees discounts on for their stocks, making them even cheaper for yourself. As long as you are staying away from illegal insider trading, take a chance on the company you work for.
When to do nothing
There are times when doing nothing is the best career decision to make. When the markets are up, simply do nothing. If a market is up now, it can easily go down the next day and in vice versa. Markets being up is not a definite reason to start planning a career change. Even when the markets are down, it’s important to do nothing. Don’t overreact or make a rash decision based on one high or one low. Any changes or decisions could easily go wrong. If the markets soar or drop, it’s best to do nothing.
If doing nothing sounds like complete torture, make a plan. When stocks are up, make a default plan for when they could go down again. It’s good to also have a plan for when the market goes up. Don’t make major career changes, but minor ones could be helpful.
There are many career decisions to be made whether the market is soaring or if it is going down. It’s important to keep all of them in mind and think logically about each one before deciding. As the market seesaws, every option is viable, but some decisions in every instance are better than others.