What the Stock Market Decline Means to Your Retirement
The main question I get is what do you think of the stock market? Said another way, do you think that we have entered into a bear market? How bad will things get?
Of course, I can ramble off opinions. NO ONE CAN PREDICT WHAT IS GOING TO HAPPEN. However, we can all have opinions. That to me is not the most important question. The more relevant question is how will this stock market decline affect your journey to retirement or your current retirement if you are retired? (Assuming that it persists and gets much worse.)
The generic reaction is that losing money is bad and it will negatively affect my retirement. Then the thought of that stirs up all types of emotions. If those emotions get strong enough, you might make some decisions that only compound the damage done to your retirement.
This is the roller coaster that so many people ride. They end up making decisions based on emotion rather than facts. What if you had a framework specific to you regarding your retirement that helped you make those decisions? What if that framework greatly diminished the emotion keeping you at peace even in the most stressful scenarios of the market?
There is a 5 step process that exists that provides that framework for investors. Yet, it is never talked about or taught….until now. On Saturday, January 12th, I am holding my Getting Ready for your Best Retirement Workshop from 10 AM to 11 AM. Your best retirement is retirement that happens on your own terms and not the terms of circumstances beyond your control. I will be teaching this 5 step process in an easy to understand format. It is all about habits and your habits predict your future success.
The event is held at the Abilene Christian University Campus which is actually in North Dallas. It is a beautiful facility that houses their online educational platform. For more information and to get registered go to www.prudentmoney.com/upcomingworkshop. I hope to see you there.