By some measures, equity markets set records for volatility in October. You may have heard in the background at a restaurant, or your club, or on a public speaker somewhere, the markets were crazy. They went up and down, on back to back days, and apparently within the day as well. But you're not listening, right?
You know that's how they get us--they trick us into acting on this news. This time is not different.
This January, the equity markets rallied to a high-point very quickly. Then, they declined and that high-point was not reached again until September. Then October hit and we are, wherever we are now, completely lost without a financial plan.
In 2016, the same thing happened at the beginning of the year and we heard stories about the worst six weeks since (I think) five years earlier. And, in 2011, it was the same thing--the worst time to be an investor since the crash of 2008. And, without a financial plan, all this might compel us to act in ways that hurt our long-term success and reduce our wealth.
We are completely lost if we don't have that financial plan. Call your planner, let's look it over. Does whatever happened today, or yesterday, or (heaven forbid) within the day today matter to your financial plan?
I sincerely hope not. I hope you ignore haunted Wall Street. I pray you are able to give your full attention to the cute ghosts and goblins on the sidewalk, knocking at your door this Halloween.
As it has been for the 75 years of our guest writer's life so it is likely to be again. Contact our office and we would be happy to send you this time tested article.