How many times in the past going on 10 weeks has someone said to you, “Hang in there”? How many times have YOU perhaps said to someone you care about, “Hang in there”?
Hanging in there is often all we can do – and a brave thing to do at that. When it comes to tough markets like the ones we are currently experiencing, “hanging in there” translates to discipline in the midst of bravery. Discipline and bravery are two of the ultimate challenges in life.
Being disciplined in investing means:
- Sticking with an established strategy (even when it seems boring)
- Trusting an established plan – which starts with HAVING a plan in the first place
- Understanding Asset Allocation
- Establishing a time frame (5, 10, 20+ years) and designing a portfolio of investments to match that time-frame,
- And, yes, hanging in there.
Perhaps never before in our lifetimes, except for The Depression or World War I or II, has the expression “hang in there” been so difficult to execute.
Try to stick to the basics, as in the list and chart above. Hanging in there is a matter of patience and getting the right advice. And please call to say hello and to send your favorite amusing or inspiring YouTube video.
We are all in this together. (Another expression we hear often these days!)