Panicked when the market plunged
Tom P., 45
Customer service agent
Tampa, Florida


My mistake: "In July 2008 I put my 401(k) in an aggressive growth fund thinking I was buying at the bottom. When the Dow fell from 9,500 to around 7,000, I just kind of panicked and sold. Had I not paid attention to everyone who was screaming or had I taken a deep breath, I would have a lot more money. I should have been patient and stayed in there."

My fix: "Right now, the market is so volatile that I'm going to stay the course and keep contributing to my money market fund."


Last updated May 20 2011: 10:47 AM ET
Join the Conversation

You buy high and sell low -- and that will cost you. Plus 4 other mistakes and fixes. More

Money's annual guide to the best investments, credit cards and more. More

Find Homes for sale
  • Property Type
  • Find a home in:
    New York | Atlanta | Chicago | Los Angeles
    Washington D.C | Houston | Philadelphia | More options