Times are tough right now and it may be hard to see the light at the end of the tunnel.
Volatility in the markets may seem never ending.
Don’t give up and run for the hills just yet!
Reevaluate your financial plan and what you have set for your short term and long term goals.
Do you have enough cash in case of an emergency? Do you have enough insurance coverage in the event you are sick or injured?
Getting back to the basics may help you to understand where you are headed. Don’t let the news headlines of today sway you into making irrational decisions that will affect you negatively tomorrow.
Here is a little history lesson from the life of Abraham Lincoln:
*1831 – Failed in business
1832 – Defeated for legislature
1833 – Again failed in business
1834 – Elected to legislature
1835 – Sweetheart died
1836 – Had a nervous breakdown
1838 – Defeated for speaker
1840 – Defeated for elector
1843 – Defeated for Congress
1846 – Elected to Congress
1848 – Defeated for Congress
1855 – Defeated for Senate
1856 – Defeated for Vice-President
1858 – Defeated for Senate
1860 – ELECTED PRESIDENT
Look at all that failure.
You might not have thought that Abraham Lincoln had so many failures in life and that’s the point. It’s the end result that really matters.
Reaching your goals and investing may take a lot of discipline. It may feel uncertain at times but having a well thought out financial plan may increase your chances of reaching your goals. Getting guidance from a financial advisor who can help guide you to a successful retirement may be just what you need.