Stop it. Just stop it, stock market. I know I shouldn’t even be paying attention, but it’s irresistible. When the market is down 400 points one day, then up 700 then next, then down 500 the next, what am I supposed to do, just ignore it and go about my day as if everything is going to be okay?
If you’ve built a long-term objectives-based plan, have strong income sources, and live responsibly within your means, you’ve already won. You’ve won the right to not pay attention to all of the sound and fury. Just go about your day.
As we’ve discussed before (here), a bigger market results in bigger point swings on a daily basis. It’s the new normal in a world that seems anything but normal. We can’t change it, so let’s just focus on things we can control. Things like:
- How often we exercise
- What we eat
- How much debt we choose to be in
- How often we watch television
- When we engage with friends and family in meaningful conversation
- Which perennials we’ll plant in the gardens this year
- Which book we’ll finally get around to reading
- How often we volunteer at church or a charity
- What new skill we’ll learn before running out of time and energy
So there you have it. We’ll watch the markets so you don’t have to…unless you want to, of course. If you’re looking for a distraction, a recommendation, the Netflix comedy special, Gad Elmaleh: American Dream, is fantastic. He’s a famous French comedian who wanted to learn to perform his act in English. It’s clean and it’s hilarious.
Laugh heartily; it’s extremely volatile out there.
All the best,
Adam Cufr, RICP®