Everyone Has a Plan Until They Get Punched in the Mouth
A proper investment plan acknowledges that your portfolio will take a hit -- sometimes a big one -- from time to time. Now is one of those times. No matter how much you plan for downturns, they can be painful to endure.
But it's in moments like these that you need to remember your plan:
- You are investing for the long run with money you do not need for years
- You've diversified your portfolio to help limit losses
- You do not want to incur unnecessary tax costs by getting in and out of the market
- You can't time the market
Only two years ago we saw stocks drop dramatically during the Coronavirus Crash -- they were down about 32% from February 12 to March 16, 2020. But significant fiscal and monetary stimulus helped turn things around. No one anticipated such a quick recovery.
The course the stock market will take in the months to come is unknown. You are, however, not investing for the next few months but with a long-term plan.
I'm happy to discuss your plan with you.
A better kind of War.