Just like sports, parallels can be drawn between investing and financial planning, such as:
Goal Setting:
We all want a result with our investments – long term growth.
Risk Management
We are here to manage risks, not avoid them entirely.
And the one I like most: Teamwork and Partnership.
Even solo athletes have a team around them. Working with us, I see it as a partnership, and we are a team.
I am here to educate and hold your hand through nervous investing times.
Some of these parallels are even more relevant than usual, given the market downturn this week. A selloff of stocks from nervy investors, which will happen from time to time and is perfectly normal.
Negative USA employment data, overly high equity valuations for tech stocks, geopolitical tensions and the Bank of Japan’s surprise monetary policy movement have all led to a sell off.
Remember the goal and this chart for what could be a rocky few weeks.
As we are into August (the speed of the year passing frightens the life out of me), we will soon be seeing the big C word appear in the form of overly priced boxes of Celebrations and Roses soon.
I hope you have all enjoyed some wonderful summer holidays and leisure activities -these things are usually where we get most joy from, spending time in places we enjoy with people we love – focus on those things and not the news or markets (I guarantee you will be happier 😊).
Remember your action list:
Here is what to do;
Stay invested.
Stay diversified.
Ignore the media.
Enjoy the summer.
Comments