![]() You have to fight all of your human instincts and build a worldview that is separate from the herd. If you can learn to ignore the noise and stick with your investment plan, you’ll do just fine.”īrian Preston, C.P.A., C.F.P., P.F.S., and host of the YouTube channel and podcast “The Money Guy Show”: “Creating wealth is simple - buy the market while you are young, and let compounding growth do its magic. All the ups and downs in between are simply noise. Don’t let emotions win over reason, Mel Lindauer, co-author of “The Bogle-heads’ Guide to Investing”: “The only two days that really matter in investing are the day you buy and the day you sell. They’re here to offer calm and a few tips on dealing with the crisis, mentally and emotionally. For many millennials no amount of rational thinking can ease the pain of the first time you watch a fifth of your life savings evaporate in a few weeks.Īs a guide to this pain, some seasoned investors who have been around this block before, having seen crises reaching back to Black Monday of 1987 offer some perspective. A generation of investors is experiencing its first genuine financial crisis. And yet: As Mike Tyson put it, everyone has a plan until they get punched in the mouth. ![]() ![]() Don’t stay glued to the financial press and, above all else, do not panic-sell your investments. You already know the rational steps to take during a financial crisis: Don’t look at your RA or investment portfolio. As for the rest of us still alive, we may have a few concerns at the moment. Two things about the title to this story: One, only 80’s kids will get it and two, Holly Johnson (the lead singer of Frankie Goes to Hollywood) can afford to relax because he is no longer on this earthly dimension. ![]()
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