This a timely message. In "Worrying About Risk Can Be Very Risky" Tony Isola frames the endless turmoil we are seeing in today's world, and how it relates to your finances.
A few years ago, I never would have thought we would be considering a nuclear attack on the US. But things move fast, and while we pay close attention to the primal "fight or flight" risks that probably won't happen; we can miss the everyday things that count.
Today's fear reminds me of when Wells Fargo tried to sell me terrorism attack insurance a few years after 9/11. After all, it could happen, right? "For only $10 a month who wouldn't want to protect their family?" Not likely at all and shame on you for trying to spin a tragedy into profit!
Today I'm seeing a few people paralyzed with fear, and it's impacting their investment decisions.
Remember this fact: Most of the money made investing is when things don't seem obvious or aren't comfortable.
Don't let your primordial instincts for fight or flight take over your intellect.
When looked upon rationally, things are usually scary when we are living through them, and we never know what is going to happen.
Plan accordingly, and have some "boring" investments you can live on in retirement to even out the market drops.
This article represents opinions of the authors and not those of their firm and are subject to change from time to time, and do not constitute a recommendation to purchase and sale any security nor to engage in any particular investment or legal strategy. The information contained here has been obtained from sources believed to be reliable but cannot be guaranteed for accuracy.