2020 is certainly going to go down in history as one of the wildest, craziest, and most memorable. In just over 100 days:
- The President of the United States was impeached and then acquitted;
- Australia experienced one of the worst wildfires in their history;
- We’ve experienced a worldwide pandemic;
- The economy was shut down;
- The 2020 Summer Olympics were cancelled and postponed along with the vast majority of most other sports;
- We’ve home-schooled our children;
- The Pentagon released videos of possible UFOs;
- The stock market has crashed faster than at any time in U.S. history;
- Then we had the senseless killing of George Floyd;
- Which was then followed by rioting throughout the United States; and
- Now, with unemployment rampant throughout the country, and with the PPP loans for businesses running out, no one really knows how bad all of this is going to get before it gets better, or if the economy will get much worse at all!
But one thing is for sure. The closer you pay attention to these things, especially when it relates to how much attention you pay to your retirement portfolio, the WORSE your results can be.
This week, Adam D. Koós, CFP, CMT discusses ways to reduce stress when it comes to managing your financial plan, retirement portfolio, and investment management, explaining that:
- There is no such thing as a “safe” investment.
- One should study and know history – stock market takes the escalator up and the elevator down.
- Ignore what you cannot control – Turn off the TV or radio and go have fun.
- Focus on what you can control – Have a plan, stick to your plan, and block out the noise.
Editor’s Note: The summary bullets for this article were chosen by Seeking Alpha editors.