In my time working with clients, there is one question asked more than any other, “Am I going to be okay?”
Stock market risk is the primary focus of the financial news. The reason is simple. The scarier the headline, the more eyes are attracted to it.
For the person who is currently contributing to a portfolio and does not need to take distributions anytime soon, this is a gift. That’s right, a bear market is a gift to those investors. If you are contributing to an investment account right now, you are already in the Bear Market Buyer’s Club.
Does it help or harm the average long-term investor to peek at their own accounts or pay attention to the market every day?
For more than 20 years, I ran competitively. Last year, I spent three to four months training consistently and failed to reach one of my goals.
Because saving money early and often can be difficult, consider how you might help those closest to you to do more of it. Here are some scenarios and ideas.
One of the concerns I continually hear from the clients I work with is whether the next generation can handle money well. The only way to know is to give them an opportunity. Helping them invest early and often will teach them discipline, patience, how to manage their emotions and the power of compound interest. All of it is essential learning on the path to financial independence . . . and many other things in life, as well.
