The world is constantly in flux, sometimes in ways that are scary or violent. This can sometimes cause us to reassess everything. But it when it comes to your investments, that may not be the best strategy. In this episode of Financial Clarity for Doctors, Corey and Rachelle chat about how to approach investing during times of geopolitical uncertainty.
Reviewing your investments:
Take a moment to review the reasons you are investing. Is it for retirement in 20 years? A home down payment in two...
The world is constantly in flux, sometimes in ways that are scary or violent. This can sometimes cause us to reassess everything. But it when it comes to your investments, that may not be the best strategy. In this episode of Financial Clarity for Doctors, Corey and Rachelle chat about how to approach investing during times of geopolitical uncertainty.
Reviewing your investments:
- Take a moment to review the reasons you are investing. Is it for retirement in 20 years? A home down payment in two years?
- With a period of time like two years, ideally, you are protecting your dollars from the risk associated with the stock market (whether there is some global turmoil or not).
- For your long-term money, if you don’t need to sell out of those investments soon, we don’t need to worry as much about what is happening in the short term.
- Put the current situation into perspective.
- On a global scale, terrifying, heartbreaking, surprising things are happening every day.
- Some of them affect us more than others, but the turmoil itself is not new.
- For the stock market, it has weathered a lot of storms over the decades.
- Keep in mind that for long-term investors, time is on your side.
- When Corey was born, the S&P 500 closed at 244.
- When Rachelle was born, the S&P 500 closed at 162 (she’s older!).
- On 11/15/2023, the S&P 500 closed at 4,502.88. That’s huge!
- Focus on what you can control, and don’t let the rest affect your investments.
All that being said, you can (and maybe should) care about what’s going on in the world. Just don’t necessarily make big investment decisions based on those events.
For more financial planning tips from Corey and Rachelle, find them on social media!
LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance
Discussions in this show should not be construed as specific recommendations or investment advice. Always consult with your investment professional before making important investment decisions. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Adviser. Finity Group, LLC and Cambridge are not affiliated. Cambridge does not offer tax or legal advice.
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