Thunder storms, lightning, rain and wind….. maybe some hail. This is a part of summer and warmer weather. Now depending on whether you are traveling, farming, just living or maybe even on vacation you will react to the thunder storm differently. But no matter your circumstance we need to be unemotional and systematic about how we react and what we do.
If we are standing under a tree maybe we should not. I hear a rumor that getting hit by lighting is not a good thing. If we are a wheat farmer maybe we should have some insurance for hail…… before the storm comes. If in the pool maybe we should get out! If outside maybe we should go inside. It does no good to worry, fret or get emotional and crazy.
Yet when the storm in the markets come we act like it will never pass, that we have to do crazy things. The insurance we buy for investments is the plan we have in place. We have created the “The Vision to Wealth Process” tm to deal with this. This is our insurance that when the storm comes all we have to do is go inside and be thoughtful about how we adjust and react and the storm will blow over. So every financial decision you make to spend, save, invest or give money away either gets you closer or farther from this nirvana of planning. Train yourself and the ones you love that every time we spend, save, invest or give wealth away… we should ask ourselves these 3 questions:
1. Am I doing this because I am emotional, or not
2. Is this getting me farther from my plan, or not
3. Is this increasing the risk of failure in my plan, or not
If any of these answers are yes, STOP… do not pass go! Re-adjust your decision process and make sure we are on the right plan working towards meeting our goals, dreams and desires long term. Assuming you are on track to financial success, the next time you have the news on or read the front page article trying to get you to be hysterical,…remember, we are ok and we have planned for this. Have a great day and sleep well.
Wayne von Borstel, CLU, ChFC, CFP®, MSFS
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. To determine which investment(s) may be appropriate for you, consult your financial advisor prior to investing.