We recognize that over the past couple weeks we have posted quite a lot of content in several blog posts, and while we hope that you’ve found those posts to be insightful and informational, this week we’d like to do something a little different.
This week will mark the first in a series of Question & Answer blogs, where we take a moment to address specific questions asked by our clients. If you have a specific question that you would like to see addressed, feel free to post it on our Facebook page, or email Rich Schuette at email@example.com.
Question: Lately I’ve been looking at my account value, and I’m worried about the fact that it is not performing as I’d planned. What am I supposed to do?
Answer: First of all, don’t panic. We know, easier said than done, right? The truth of the matter is, we as humans are not wired correctly to be successful investors. We seem to thrive on buying and selling based on emotion, rather than taking a prudent course of action. It is counterintuitive for us to remain calm and unaffected by the ups and downs, and the ebb and flow of the market. That’s why recent market action has found many people stating “I can’t take it anymore!” or “Oh no, I can’t go through this again!”
We each want all the financial successes we deserve and we want to believe we can have them simply by paying attention to the information around us. But doing so can often lead to the urge to make reactive and often rash decisions. Yet now more than ever is the time to exercise control over such thoughts and instead of jumping ship, go against your hardwiring and stay the course. By doing so you will be able to see that in the long run you will eventually get to where you need to be simply by riding out these waves of financial pandemonium.