As I was doing my usual read through various financial articles on various websites, this one caught my eye. On Yahoo! Finance I came across an article called “Four Signs You’re in Retirment Denial“.
As I read this article I remember a tweet I came across yesterday from @MikeLangford of Tweetworks:
“Just in case you missed it. The S&P 500 rolled three consecutive months of positive returns: March 8.76%, April 9.57%, and May 5.59%.”
I apologize because I don’t remember who replied but the reply was something like: Does that mean I can open my statements now?
This scared me. We are going through arguably the worst economic situation the US has ever faced and it affects everyone. How are you reacting to it? Are you nervous? Scared? It’s okay, you are allowed to be. It is normal to be afraid. There is nothing wrong with it. What might be wrong is how you are responding to that fear.
If you have a broken arm, you might be afraid of doctors or of surgery, but you are probably going to get it looked at. Maybe you’ll say, “oh bones heal eventually so everything will be fine.” Do you think your arm would heal right? Would it be as good as it was before? So why are you doing this with your financial future?
You’re financial future is broken right now. Anyone who has done a financial plan, used Monte Carlo simulations, owns a financial product, uses some financial service, has any money invested, has money in savings accounts, has money under the mattress, on and on…it’s all BROKEN! Are you going to fix it? Maybe it will heal itself right? How are you going to fix it? Are you going back to the person who told you it was unbreakable? Or maybe he just promised it wouldn’t break, how’d that work out?
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