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.
One thing we hear, especially during challenging times like these is, “I just don’t want to lose it all. I’m fearful of losing all of my portfolio.” In a diversified portfolio you are invested in hundreds to thousands of various things whether it be stocks or bonds, no matter a conservative portfolio or an aggressive, it should be diversified. So let’s unpack the fear of “losing it all.”
It’s been another tumultuous week with what looked like a healthcare crisis, rapidly bleeding into what could be a serious financial crisis. From our last video not even 7 days ago, things within our economy have come to a screeching halt and rebounding from this could present another challenge in itself.
There is a tendency to always compare current conditions to a memorable last experience, and in the financial world that’s 2008. In my video and discussion, I describe the differences between the US and the World, and 2020 and 2008.
Turbulence in a plane is normal, and so it is in the markets. This is the biggest turbulence we’ve seen thus far, and in 11 or 12 years. Painful! But that doesn’t mean you change a long-term decision on short-term emotions. In my opinion, the ones fives years from now who are the winners are the ones who are in control today.
Right now, no one knows how the financial markets are going to completely react to the Coronavirus epidemic and with this recent and most particularly painful downswing it is helpful to take a step back and refocus on the long-term
"Worry does not empty tomorrow of its sorrow, it empties today of its strength." - Corrie Ten Boom There’s an old adage that says that the market takes the stairs up and the elevator down. And what that means is that there are sometimes in history spectacular events...