Throughout recent history, every generation could find reasons to be wary of the future and decline to plan and invest for that future. The timeframe in the below chart includes WWI, the Great Depression, WWII, the oil crisis, and the Global Financial Crisis.
It's hard to not be fearful of the unknown, especially with investing. It's complicated and the 24-hour news cycle would lead us to believe the world is ending tomorrow.
So how do people do it?
Here's how we simplify things:
1. Determine what game you're trying to play (short vs long, conservative vs aggressive, etc.)
2. Create a game plan and some rules around future decision making.
3. Execute the game plan.
4. Continously review and revise as needed.
5. Stick to it and be patient (this is arguably the hardest part).
It all seems pretty easy and straightforward, but it's not always. Depending on your situation, it can be stressful, complicated, and time-consuming.
Having a partner on your side who you can trust to help stick to the plan is key.
Find a partner, and get started! Your future self will thank you.
Big up to Larissa Bellotte who managed to totally cure me of my fear of heights. I went on a chair life twice this morning and didn’t feel a bit afraid. I was terrified on any sort of cable car before seeing her.
(Retired) Account Director + Sr. Producer
6moThat’s a wrap! Thanks everybody! It’s been a great ride!