That said, now is NOT the time to be identifying needs and expressing concerns. The time to do that is during the bull market when things are good, which is hard to do when in the throes of a euphoric market, such as we saw from November 2017 thru January 2018 and again from April thru October of this year.
Selloffs like this statistically happen twice a year. And the market has done a fabulous job of reminding us of that statistic this year. Chances are you saw your account balances hitting highs in January of this year only to see them fall back in February. Now fast forward to October, and all the losses from February were made up and the markets were once again hitting all-time highs. Until last week…
I know that I constantly stress the importance of “having a plan” and “forecasting cash needs” out a minimum of 12 months. This advice is specifically poignant at times such as this. It is imperative to stay calm and not make emotional investment decisions during periods such as this. If the past few weeks have given you unbearable heartburn, then we should probably meet to adjust your asset allocation when the market recovers. Not making wholesale changes in the face of volatility, more often than not, can be a true value add. Impulsive action on the other hand, is often damaging to returns.
As always, I am here to answer your questions and discuss your specific financial situation in greater detail.