Market Volatility: What should you do?

By Scott Boassaly, MBA, President and Principal Advisor at Balance Financial

The statistics are staggering. Historical single day losses. Historical single day gains. Multiple days of losses without more than a day’s reprieve. Markets down nearly 20% in under three weeks. Volatility is back with a vengeance.
What are you to do?
  • Stay calm. We’ve been here before. We’ll be here again. A level of stability, as well as previous values, will return. Stick with your financial plan; it’s been designed with this in mind.
  • Remember that you can’t time the market. Getting in and out of the markets based on yesterday’s results or what you expect to happen tomorrow is a formula for long-term failure. It’s been shown time and again that you can’t time the market, and exiting the market, even periodically, may result in lower long-term gains.
  • Buy the dip! SALE! SALE! SALE! When the markets go down, buy what’s low to improve long-term gains; it’s on sale! Do this by investing available cash or by moving money from more stable investments into those that have fallen the farthest.
  • Minimize withdrawals. When you withdraw money from investments that are down, you amplify the loss and hurt longer-term values.
  • Use Balance Financial’s Three Bucket Retirement Income Strategy. The strategy was developed exactly for times like this and may help to protect your retirement income while investment values are lower.
  • Talk to a financial advisor. Financial questions are easy to handle when things are good; but when times are tough, excellent financial advice can help you manage the current situation and improve your longer-term position. We’re here to help. Call or email us for more information.

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Picture of Scott Boassaly, MBA, President and Principal Advisor at Balance Financial

Scott Boassaly, MBA, President and Principal Advisor at Balance Financial

Scott founded Balance Financial in 2019, the culmination of a 15-year journey to provide accessible and customizable financial planning for clients. In his role as President and Principal Advisor, Scott develops business strategy for the company while managing his own practice. Working closely with his clients, Scott allows people to tell their story and write more chapters as they pave their financial paths together.

A former high school teacher and college instructor, Scott continues that passion for education by providing retirement workshops to the Federal and Provincial public service, as well as free public workshops to adults and teens.


Scott Boassaly



A former high school teacher and college Economics lecturer, Scott Boassaly has always valued education. This is further illustrated by his formal education. He holds a BA in History from Carleton University, a Bachelor of Education from The University of Ottawa, and an MBA from The University of Ottawa. This focus on education reveals itself in his approach to financial advice and in his commitment to offering free financial seminars to both adults and children. Celebrating his 20th anniversary as a wealth manager, Scott started his career at a large national firm where he quickly transitioned into management. Further industry experience was gained working with a reputable brokerage, then managing his own brokerage, Balance Financial, since 2019. Scott is the only certified responsible investment advisor in Ottawa and also holds the Real Wealth Manager designation.