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How long will this party last?
Five years into the bull market, 57% of well-off clients polled by wealth manager deVere Group are bullish on the next 12 months -- the most since 2007.
Skip the celebration: Optimism usually peaks as the good times end. Instead, follow this three-step plan for handling the emotional side of investing.
Do more research. Watch for other ominous signs of overconfidence.
One noted by Leuthold Weeden chief investment officer Doug Ramsey: Trading in speculative penny stocks jumped last year to its highest level since 2007.
Stay on target. Are you too prone to trading as the market's mood -- and yours -- shifts? Go for set-it-and-forget-it options like target-date funds.
In 2008, while panicked savers yanked $229 billion from stock funds, target-date funds saw inflows of $42 billion.
Watch your wallet. As market confidence rises, resist the urge to splurge on stuff other than stocks.
For every $1 increase in stock wealth, consumer spending jumps 2¢, according to Moody's Analytics chief economist Mark Zandi.
In a bubbly mood? Go ahead, congratulate yourself on getting that much closer to your long-term wealth goals!