The start of 2016 is one for the record books. The recent volatility has stirred up emotions and questions from clients that we have not seen in a while. We wanted to address one of the questions asked recently, “Should I stop saving until the market gets better?” Our advice is don’t let the market roller coaster get the best of you and keep doing the right thing!
It is common for people to have an emotional reaction to the market’s ups and downs. As prices go up, we feel good about ourselves. Optimism turns to enthusiasm, then exhilaration, and peaks at euphoria. During the downward swings, our emotions turn darker, and they seem to be at their worst when the market news is the bleakest. If you are feeling overwhelmed recently turn off the TV and call your Financial Advisor.
One of the right things to do is to continue to make contributions to your retirement accounts. Our economy isn’t the greatest right now, but the fact remains that practically all of us will retire from the work force at some point in our lives. We need to be able to pay for our lifestyles during our retirement years somehow, and Social Security simply isn’t going to cut it for most of us. That means we need a backup, and that backup is our own savings and investing.
Don’t let fear keep you from achieving your goals. Time is our most precious asset, and stock markets can move with amazing speed and direction. In our experience, too many investors wait to get back into the financial markets until after the economic storm clouds have cleared. Unfortunately for them, much of the opportunity for gain is lost by waiting too long. We are here to help you develop a plan to keep doing the right thing.
Advisory services offered through EWG Elevate, Inc. dba Eagle West Group.
This represents a partial list of clients. They have not been compensated and were not selected based on duration, performance, account size.