Why it’s a good time for young investors to put money in the market

FG Trade | E+ | Getty ImagesOpportunities in the dipFor young investors with the longest time horizons to plan for retirement, today’s market downturn also provides an opportunity, according to Paula Pant, host of the podcast “Afford Anything.””A dip is your best friend,” she said. “So, buy the dip, take advantage of the fact that prices are low right now and don’t try to time the market.”The best days in the stock market generally follow the worst slumps, so if you continue to put money in even when prices are going down, you’re setting yourself up for major gains on the upside. Regardless of how far you are from retirement, that can set you up for long-term success.”Starting during what seems to be a pullback gives you an accelerant,” said Pant.Saving smartOf course, Pant also noted that having a properly balanced portfolio for your age, investment time horizon, goals and risk tolerance is as important as consistently investing.If you’re not sure of those key aspects of saving, it can be beneficial to seek professional help, said Tran.”Unless you’re doing this for a living, everyone can benefit from professional financial advice,” she said, adding that there are many levels of help available for people at every stage of life and budget.If you’re saving for retirement through an employer-sponsored 401(k), it’s also important to make sure you’re optimizing that benefit, according to Gorick Ng, author of “The Unspoken Rules.”Top of mind is making sure you’re putting enough money away from each paycheck to ensure you’re getting your employer match if one is offered.”If you say no to such an option, you’re saying no to free money that your employer was prepared to give you,” said Ng. Over time, missing out on those gains could have a major impact on your portfolio and retirement timeline.

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