Putting it All in Perspective
This bear market we are in has just roared. For those who turned the shake-up of the pandemic into making time for proactive planning, they should remain calm and reassured. When shelter-in-place first kicked-in, I offered free weekly webinars available to clients and non-clients alike so that we could make good use of our downtime by learning new financial concepts. Many tuned-in and invited friends and family to do so as well. To this day, I continue to see a robust referral from those spreading the word about the joys of becoming a better steward of one’s finances. It is a very rewarding feeling for me as a Financial Advisor to see that transformation happen.
It is human nature to initially feel worry when you have headlines of banks failing and market contagion. If concern persists, turn that energy into a ‘systems check’, perhaps done best with a review with your Financial Advisor. A review can help you continue to make well thought-out decisions and not emotionally-based ones out of fear and panic.
If you pull up financial charts on sites like Yahoo Finance, you will see continued periods of recovery from downturns – no flatlines - despite the popularity of the term ‘market crash’. Sectors do come in and out of favor but never in lock-step together. Those who were positioned for recovery had chance to be part of it. Seeing this wonderful arc of time may help you keep it in perspective.