Prudent Investing in Tumultuous Times
by Christine Van Meter, M.B.A., E.A.
What a wild year it was! The elections in the US turned our political system into the equivalent of a street brawl. And, oh my! What about that scandal surrounding the new president's wife? Revived protectionist sentiments threatened the profitability of businesses that buy or sell overseas. Racial questions roiled our society. Big banks were never more profitable, and yet farmers and workers sometimes wondered how to put bread on the table. Do you think I am talking about this past year? No, I am describing the election of 1828, which Andrew Jackson won (sadly, those salacious rumors about his wife Rachel caused her to die of a stress-induced heart attack just three weeks after the election).
As wild and confusing as the news seems today, it does not mean that it is time to give up on the American dream. More pointedly, you certainly should not let fear and confusion derail your financial plans for a secure and prosperous future.
As financial advisors, one of our most important roles is to help you make rational, prudent decisions about your finances in seemingly irrational times. We know that for investors, fear is among the worst of enemies. The famous mutual fund pioneer Jack Bogle summed this up so well when he said that a good financial advisor helps to dissuade clients from making the wrong decision at the wrong time.
Diversification, balance and a sound understanding of your personal goals and risk tolerances provide the foundation for successful investing over the long term. As financial advisors, we can help you implement this foundation for a secure future, and we can help you avoid taking undue counsel of your fears as the unrelenting news cycle continues to feed us a steady diet of doom and gloom.
As always, we at Van Meter & Van Meter, LLC are here to help you stay a prudent course in confusing times. Call us today at (315) 823-9200 to schedule an appointment.
Photo credit: Seth Tisue @ Flickr