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Fast forward more than four years and the ride still isnt over.
The U.S. market crash was the biggest drop in several years, according to CNBC.
Panic selling during these sudden dips is usually a mistake.
Missing the recovery days can crater your portfolio, Baker said.
Sometimes its appropriate to sell off a stock or fund thats underperforming over a long period of time.
But day-to-day market swings should not throw you off your investing game.
You could be hit with a 10% penalty plus incomes taxes on whatever amount you withdraw.
Even outside of a retirement account, panic selling could result in higher capital gains tax.
Consistent contributions will lead to significant compounding.
Cruze gave the example of starting at $0 and contributing $200 per month starting at age 22.
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