MY TWO CENTS:
Most of our readers know that I don’t use this media for much in the way of market, investment, or even financial planning thought sharing. I’ve made it a point to share thoughts on personal development, leadership, self-reflection/awareness, fitness, or any other “brilliant” idea that pops into my head as I type.
This week is a bit different in that we’ve recently experienced some heightened market volatility and have heard some rumblings of folks being concerned about their investment strategy. First…fear is a natural response to things beyond our control. Second…there are some things we can do to calm fear and build confidence.
As you’ve likely read through this media, or heard us say in any of our past communications, we are firm believers in a comprehensive and purpose-based plan. While a plan can’t fully protect against value decline, proper execution of that plan can help give you confidence that your priorities can still be handled through periods of uncertainty. Living our lives on the ragged edge of a cliff where everything MUST go just right increases our stress level so everything becomes a crisis. It’s hard to live with peace and joy in an environment like that, which is why a prudent plan with proper execution is so important!
The other way to combat this fear is through education. One of the firms we use and follow that produces some really good economic content is CityNational Rochdale. Their Chief Investment Officer, Tom Galvin, just completed a brief video update that speaks to our recent market volatility. It’s about 5 minutes long, and worth a look if you’d like to hear a direct and easy to understand summary of what we’re currently experiencing. Here’s the link:
If you’re feeling unsettled, or know someone who is, please don’t hesitate to give us a shout. We believe that your ability to pursue your purpose as you live your legacy happens on the other side of fear. It is our purpose to do everything we can to help you get there!!
Make it a great week!
Scott Cousino, CFP®, CEPA®