As an advisor I have the opportunity to work with a variety of people from all walks of life. The fact that I get to have intimate financial discussions with so many provides me with insight into how we think, behave, and react to different situations. The current pandemic is certainly the most recent and ongoing event that continues to show me the best characteristics of everyday people. It's fair to say the majority of people I work with are concerned. However, being concerned and being afraid are very different. I'd like to shed some light on the behavior differences of the two.
You fall into this category if you are unsure of the outcome of a given situation. You attempt to gather what the truth is and act accordingly. You follow basic guidelines and best practices but for the most part you continue on and maintain as much of a normal schedule as possible. You look for opportunity to help others.
You fall into this category if you are losing sleep based on events you can't control. You are quick to take action, sometimes to your own detriment. It's difficult to maintain any normalcy in your day-to-day activities. You become susceptible to letting fear guide your actions and end up doing anything you can to take care of only yourself.
When it comes to everyday life it can be hard to tell the difference between a concerned person and someone who is afraid. When it comes to making financial decisions it is extremely evident. One of the things I enjoy the most is being able to speak with and encourage people to help them avoid making short term decisions based on fear. While it never feels like it makes much of an impact immediately, there are long term benefits of having an advisor to talk to about your investments. If you find yourself in a situation where you feel that you need a source of calm during times when your investments are not, don't hesitate to give us a call. We would love to help!
This is meant for educational purposes only. It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions. (03/20)