“Wealth is not determined by investment performance, but by investor behavior.” -Nick Murray
This is so important when you are in the middle of what seems like such scary times. Remembering the end goal, and that we have prepared for times like these in your overall financial plan is important. Coronavirus, falling interest rates, and oil prices dropping dramatically are today’s headlines. They will pass, and others headlines will come along. For money that is needed within the next few years, remember that you have positions inside of your accounts here and self-directed (checking, savings, CDs, and outside retirement accounts) to help cope with depressed stock prices. When things get ugly in the market, it usually presents opportunities.
- Panic selling (or buying) is never a sound investment strategy.
- In any moderate growth down to conservative portfolios, there are positions that have done well during this market decline.
- If your mortgage term has 15 years or more, there are now potential opportunities for savings when refinancing as rates have dropped significantly.
If you’d like to discuss any of these key takeaways or see how your specific account positions have performed during this downturn, please do not hesitate to call or email me directly at firstname.lastname@example.org.
Thank you, as always, for your time.