How do recent events in the United States and worldwide impact us and our financial plans? The answer is, over the long term they will have little impact.<\/p>\n\n\n\n
It\u2019s human nature to try to extrapolate outcomes from every event, even though we have no real basis for our reasoning. From election outcomes to monetary policy to market volatility, when taken into account over a long period of time, each bump in the road has a limited impact on the end result.<\/p>\n\n\n\n
The real impact comes when we deviate from our plan out of fear.<\/p>\n\n\n\n
Many of you are familiar with the picture hanging in our office of the stock market over time. It transposes different presidencies, world events (good and bad), and the market over time. That one picture provides clarity and the benefit of having a long-term optimistic view. While the market line goes up and down based on the events, the trajectory over time is upward.<\/p>\n\n\n\n
One thing I have learned in my 30+ years as a financial advisor is that it can be concerning and often alarming when something happens that is out of our control. Our emotions are telling us that we need to do something to protect ourselves and our financial future. In the moment, we do not see these as opportunities to improve our financial future. Too often we respond out of fear by pulling back.<\/p>\n\n\n\n
To provide some recent examples, during the pandemic and the bear market of 2022, I received numerous calls asking if contributions into investment accounts and 401(k)s should be stopped. On the surface, this seems like a reasonable idea. However, each of the investments made during those uncertain times was made at a discount, providing an opportunity for greater growth.<\/p>\n\n\n\n
My advice to you is that when things get a little crazy and you are tempted to make a change, stop and consider your long-term goals. Focus on the future. What\u2019s happening today will soon be just another past event. Take the advice given in this edition of Money Moxie: Develop healthy money habits and avoid letting your emotions drive irrational decisions.<\/p>\n\n\n\n
Your future self will appreciate your resilience.<\/p>\n","protected":false},"excerpt":{"rendered":"
How do recent events in the United States and worldwide impact us and our financial plans? The answer is, over the long term they will have little impact. It\u2019s human…<\/p>\n","protected":false},"author":1,"featured_media":3630,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_members_access_role":[],"_members_access_error":""},"categories":[646,6,7,8],"tags":[402,403,90,677,89,678,26,12,94],"class_list":["post-3602","post","type-post","status-publish","format-standard","has-post-thumbnail","category-646","category-executive-message","category-money-moxie","category-newsletter","tag-emotional-investing","tag-emotions","tag-financial-planning","tag-future","tag-investing","tag-optimism","tag-retirement","tag-sharla-j-jessop-cfp","tag-stock-market"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t