One of the worst things you can do when the market takes a dip (or a dive) is to immediately pull your money out. While it may seem logical–why lose any more money–it’s almost always the wrong move. Taking money out during a downturn makes it incredibly difficult to take advantage of the eventual upturn. If you understand the tax implications of losses, you further take advantage through smart tax harvesting (I’m not going to get into that here). Now, I’m not talking about divesting your money in one stock and investing it in another that you think is poised to rebound. I’m talking more about divesting to preserve your cash and then investing when you think things look better. Trust me, by the time things “look better,” you’ll probably miss out on a good chance to make money (the best place to invest in a stock is at the bottom…nowhere to go but up!). The best thing to do when markets take a dip is not to react immediately. Give it a little time and see what happens. If things don’t appear to get better over time (days, weeks), then you may want to consider diversifying your investments or making changes to your portfolio. If there are parts of your portfolio where things are struggling and another where things are strong, you may want to consider focusing on the stronger areas. If you need help with your investments or portfolio, as always, I suggest you take with a certified financial planner or wealth manager or another investment professional.