Clients and Friends
I took my family out for a nice dinner on Mother’s Day. Although we went to a small local Trattoria it was far from inexpensive, but the food was out of this world. Having the family together for this wonderful occasion provides memories that cannot be replaced and I will never regret spending one penny.
Speaking about regrets, complex markets like these often result in people making decisions they often regret.
Here are six of them
- Looking at portfolio values continuously is a great way to increase the chance one will react emotionally vs. rationally.
- Panicking and wanting to make changes to a well thought out investment strategy.
- Stop Investing – because markets are down.
- Waiting for the market to bottom to invest – you will never know when it will occur and the media headlines will be their scariest at that time, making it the LEAST likely time when you will invest.
- Thinking the markets are “fixed” as an excuse for not investing.
- Probably the BIGGEST REGRET - Regretting that you did not invest during a downturn while stocks were cheaper.
Take a look at all of the market corrections during the past 70 odd years
During each correction, the headlines were scary, and many lost confidence, but guess what happened every time? The bad market turned into a good market. Every “it's different this time” was not that different after it was over. Almost every investor who stopped or did not invest because they listened to scary headlines vs. sticking with their well-thought-out investment plan later regretted their missed opportunities to buy stocks when they were on sale.
Your wealth plan will never be perfect. There will always be times when we buy at a higher price and other times at a lower price. That’s what is so great about being a successful investor. It doesn’t need to be complicated. If you continue with your investment strategy, realize that downturns are normal and regularly invest you will avoid feeling regret later when you realize that you knew what should be done, but didn’t do it.
Concerned about your retirement and would like to get some honest guidance?
Let's start a conversation. Follow this link to book a call with me https://calendly.com/westendwealthplanning/15min?month=2022-05
*The views and opinions expressed in this article may not necessarily reflect those of IPC Securities Corporation.