Money and Therapy. Two things that people may love or hate talking and thinking about. However, among other things in life, money and therapy help.
Here is where I am going with this. Recently I read a must-read book for young and old, wealthy or building wealth, married or single. Anyone who wants to have a “life” someday…or even have a life NOW. The book is called The Number* and was written by Lee Eisenberg nearly 10 years ago, but it reads like he wrote it yesterday.
In times of stock market weakness – like we are seeing over the past month – we can tend to get scared. We are human. However, I stress to my clients and friends NOT to allow short-term market moves (monthly, quarterly…even yearly) to lead to poor decisions. Why? Please read on…
The following chart reads like a cartoon so not to worry that I am sending you a complicated graph. The RED DOTS = how much the market went down sometime during each year. The BLUE LINES = where the market finished at the end of the year.
“Is this the ‘Big Dip’ in the markets they have warned about?”
“Should I be selling my stocks?”
“Should I be selling my bonds?”
Although I stress to clients and friends NOT to listen to the Talking Heads on TV, radio & internet—and then make rash investment decisions – when these media personalities comment on dramatic market moves (they LOVE down markets for hype), we are human! It is nearly impossible to ignore completely what is going on daily in the markets. And the stock markets have crept down a bit over the past few weeks. Continue reading “Gut Check in Rocky Markets”