Excerpts from the February 2018 Archives of TGIF 2 Minutes…
“Let the good times roll.” I am partial to this expression because my Dad used to say it a lot either as a toast or statement when things were going well. Looking overall at the last few years’ markets, current economy and lives and businesses of clients, the expression definitely applies.

But of course, there will always be something to worry about. Always.
- How long will these positive markets last?
- Will my portfolio continue to gain in value? How can I best preserve all this wealth I have created?
- How long will these economic and business conditions continue to contribute to my personal and business success?
- Will the risks I have taken in the past few years (that have paid off) continue to yield positive results?
Worries are a constant factor in life. That is why economists (and meteorologists) get paid A LOT of money to talk about everything that can go wrong… in the name of predictive science. Yes, the best economists are highly educated and possess much intelligence. The best meteorologists are extensively trained in science. But worry without perspective or a PLAN can be unnecessarily destructive.
Here are elements of a PLAN, for starters.
- 1) Have a plan to rebalance your portfolio (for what this means, please ask me).
- 2) Have – or build – a comfortable amount of cash on hand for emergencies, fun and whatever is important to you. Invest in conjunction with this cash savings.
- 3) Know how much you spend – and spend within your means – because in the markets when the proverbial #### hits the fan you may not feel as “rich”. When a portfolio takes a hit, even the highest earners may feel better temporarily cutting back on spending.
- 4) The time to be able to invest is over the course of a market decline – declines can be swift or last months or more (see #1 above).
Despite numerous challenges to individual industries (healthcare costs, government policy) there remain positive forces contributing to the long-term health of the US economy (innovation, hiring, wages). Managing your plan and behavior in these profitable times is just as important – if not more – as managing your actions in a downtrend. Worries will almost always exist. But during good times, how extensively you plan and from whom you get your advice can greatly lessen overall worry.