Generosity Wealth ManagementBlog
Empty pockets never held anyone back. Only empty heads and empty hearts can do that. – Norman Vincent Peale
Generosity Wealth Management provides you with the information you need to stay abreast of the top financial news. If you ever have any questions, you can reach out to us directly.
Powerful emotions drive irrational thinking in all areas of our lives. Twelve months ago we had an awful lot of irrational thinking. There was no way that anyone could have predicted that we would be where we are today, that the financial market would have not only recovered but experienced growth. It seemed like the recovery timeline should have taken longer, but it didn’t. But how did people fare? When you look back 12 months ago the people who made the best decisions were those that were in control of their emotions. Those who weren’t on the other hand, didn’t fare as well.
Let’s discuss why this is so and why looking long-term is always important, no matter what’s happening in the world.
30 years ago, financial advisors were the primary source for market information, such as how things are performing, statistics, etc. Access to the information was not readily available to the general public and it was a financial advisor’s job to communicate specifics with clients.
Now, thanks to the internet, anyone can access pretty much any information they want, any time they want. Thus, we generate much more value by showing you what to do with all this free flowing knowledge and analysis.
"What the new year brings to you will depend a great deal on what you bring to the new year." - Vern McLellan 2020 was a rollercoaster of huge declines followed by a huge recovery, with ultimately happy investors at the end of the year. 9 months ago however, we didn't...
"Every word matters. Don’t make the simple complicated, make the complicated as simple as it can be. You’re not finished when you can’t think of anything more to add to your document; you’re finished when you can’t think of anything more that you can remove from it."...
No one could have predicted the rollercoaster we’ve experienced this year. From scary drops to tremendous rebounds, we’re reminded that diversifying your portfolio is a much sounder strategy than continually preparing for the worst case scenario.
We have a complex world, especially with the current tumultuous ripples of the pandemic. As we seek to make sense of the ups and downs we tend to assume a binary stance- it must be good or bad. But really it is a complicated formula with lots of different variables within the economy and of course how that relates to particular investments. We’ve gone from devastating declines to roaring rebounds – but why?