2019 was a year of highs and lows, mixed economic numbers, political maneuverings, and ongoing recession worries. In other words, a fairly ordinary year in the late stage of an economic expansion.
We don’t yet know what 2020 will bring for the economy, for markets, or for our own lives. We can’t control what happens in markets or what happens in DC. But, we can control some things.
As we usher in a new year with great expectations, let’s take a moment to recommit to the factors we can control:
Harnessing the Power of Our Dreams
We know you don’t want to grow and protect your wealth just to have a big portfolio. Money is a tool that you can use to reach your aspirations, retire in comfort, create change in the world, and leave a legacy of love. It’s the desire to see you achieve your dreams that drives us to work tirelessly on behalf of our clients. Remembering your goals and keeping them close at hand will help you commit and achieve them.
Building Better Financial Behaviors
Too many investors focus on markets when they should focus on themselves, their hopes, their goals, and their dreams. Identifying the choices in our control isn’t just a good financial lesson, it’s a great life lesson, dating back to ancient Greece, when the Stoic philosopher Epictetus said:
“The chief task in life is simply this: to identify and separate matters so that I can say clearly to myself which are externals not under my control, and which have to do with the choices I actually control.”
Time in the Market, Not Timing the Market
The best day to invest in the market is the day after you get paid. The most potent factor you have as an investor is time. Markets are unpredictable, and those who jump in and out based on emotion or “gut feelings” about tops and bottoms typically do worst of all.
May you and your family enjoy all the warmth this season has to offer and a new year filled with love and success!