.@justLBell and I wrote a little thing on the five market lessons we've learned in 2020.
It actually got me thinking about one big lesson I've learned in life and in markets this year...losing control.
ally.com/do-it-right/tr…
It actually got me thinking about one big lesson I've learned in life and in markets this year...losing control.
ally.com/do-it-right/tr…
(am writing more but my maintenance guy swung by)
OK...losing control.
I'm a super type A person, to the point where I've had pretty debilitating anxiety for a while.
It's been a rough year for all of us, but it's been a special kind of awful for those who struggle with anxiety and other mental health issues.
I'm a super type A person, to the point where I've had pretty debilitating anxiety for a while.
It's been a rough year for all of us, but it's been a special kind of awful for those who struggle with anxiety and other mental health issues.
One big thing I've worked on in therapy is letting things happen and reacting, instead of trying to control everything around me.
2020 really put that to the test. Every day looked different in the headlines and in my home. And *definitely* in the markets.
2020 really put that to the test. Every day looked different in the headlines and in my home. And *definitely* in the markets.
By some measures, it's been the most turbulent year in the stock market in recent history.
Totally UNPRECEDENTED (if I had a nickel for every time I wrote that word).
Totally UNPRECEDENTED (if I had a nickel for every time I wrote that word).
I also pull a lot of historical data on the markets, so of course, when stocks started dropping, I thought I could logic my way into thinking what happens next.
Bad, bad decision. Logic doesn't apply in extraordinary times.
Bad, bad decision. Logic doesn't apply in extraordinary times.
Of course, that goes back to my "trying to control everything" weakness (that I'm working on).
Sometimes, you just have to go with the flow, even if the flow wants to make you vomit.
What does that look like in investing?
What does that look like in investing?
Remembering why you're invested, and when you need that money you've invested.
Preparing yourself for an emergency (keeping cash so you don't have to sell when an unexpected expense pops up, and to keep you sane).
Ignoring daily moves.
Not relying too much on history.
Preparing yourself for an emergency (keeping cash so you don't have to sell when an unexpected expense pops up, and to keep you sane).
Ignoring daily moves.
Not relying too much on history.
A lot of that translates to life, too.
Roll with the punches.
Don't try to guess what happens next. It's wasted energy.
Lean on what you've (hopefully) done to prepare for the unexpected.
React when you need to. Save your energy for that.
Roll with the punches.
Don't try to guess what happens next. It's wasted energy.
Lean on what you've (hopefully) done to prepare for the unexpected.
React when you need to. Save your energy for that.
Anyways, I hope everyone reading this is safe and healthy. Sending all the good vibes out there.
2020 has been one hell of a year.
Here's to 2021.
2020 has been one hell of a year.
Here's to 2021.
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