RIDING THE BUCKING BULL

Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

By Melanie Hasty-Grant

RIDING THE BUCKING BULL

5 Steps to Overcoming Fear About The Market

Well folks, I can surely say….This ain’t our first rodeo when it comes to the ups and downs of the stock market.  It seems we have quite the perfect storm brewing here in Oklahoma. Between oil prices plunging, the stock market in correction, high Oklahoma jobless claims, and the extreme negativity of this election cycle, it has created a tornado of panic and fear. It feels as though folks are holding on for dear life.

While fear is an understandable emotion, if you act irrationally during periods of stress, you will likely regret it. The current volatility is uncomfortable but it is not unusual or unexpected. It is important to remain rational and disciplined. While we can’t control what happens in Washington, Wall Street, or Main Street, we can control how we prepare for and respond to the resulting gyrations. Thoughtful development of your goals, sound financial planning, disciplined investment management, and asking for professional help are things you can control.

The following are five steps to overcoming fear about the market:

  • Develop a clear goal about the money that you have invested. This should include what you will use the money for and when you will need it. If it is for retirement, look at how much income you may have coming from social security or other sources and solve for the difference.
  • Determine how much risk you are comfortable with. If you are unsure, google investment risk quiz and see how you score. Most people think that they are fine with risk until the market declines and then suddenly they are not.
  • Establish an investment plan. Research at least 10 different investments. Evaluate their potential capital appreciation, dividends, and risk factors. Decide what investments you are going to buy. Make a decision about when and for what reasons you would both buy and sell this specific investment.
  • When the market gets rough, stay focused. Do not get emotional and change your plan midstream. If you decide to change your investments, ask yourself if your plan has changed or if you are just scared.
  • Ask for help from someone who knows what they are doing. It may be your best investment ever.

For help riding the bucking bull, give us a call. We can help. For more information go to www.waterstonewealth.com or call 918-272-1120.

Melanie Hasty-Grant, Experienced Licensed Professional Counselor and Managing Principal at Waterstone Private Wealth Management.

Securities offered through Cetera Advisor Networks, LLC, Member FINRA/SIPC. Investement advisory services offered through CWM, LLC, and SEC Registered Investment Advisor. Cetera Advisor Networks LLC is under separate ownership from any other named entity.

Share:
facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.
Share Post: facebook Created with Sketch. twitter Created with Sketch. linkedin Created with Sketch. mail Created with Sketch. print Created with Sketch.

RECENT POSTS

Your Silicon Valley Bank Questions Answered

You likely have heard about the recent Silicon Valley Bank (SVB) collapse and probably have questions. Here, we provide you with unbiased answers to your questions.

Thinking About Retiring Early? 8 Things to Consider First

Tom Fridrich, JD, CLU, ChFC®, Senior Wealth Planner We’ve all asked ourselves whether it’s too early to retire (usually after a particularly challenging commute or dealing with a difficult client).  You may have even gone so far as to take a sneak peek at your account statements …

4 Tips to Take Your 401(k) to the Next Level

Matt Kory, Vice President, Retirement Programs As a retirement income vehicle, the 401(k) is second in popularity only to Social Security – and as CNBC reported in 2019 the number of 401(k) millionaires is at an all-time high. But is a million dollars even enough for your retirement needs? 

A Bucket List of Purpose

Does your bucket list include helping others? We’re spreading the news about Mission 15:4, a local, non-profit organization offering much-needed support and guidance to men. Read more about their worthwhile mission and how you can help in our latest blog. Read More

1 2 3 101 102 103

Get in Touch

In just 15 minutes we can get to know your situation, then connect you with an advisor committed to helping you pursue true wealth.

Schedule a Consultation

TweetsFollow Us