Not sure about you, but I am so glad January is over. This quote from James Clear, author of Atomic Habits, helped me through the month that seemed to last forever:
“When working with people, assume good intentions.
When listening to people, interpret their words in a generous way.
You will occasionally get burned and mistreated by always assuming the best in others, but it is a far better way to live than the opposite.”
Here’s what else I’ve been reading:
A good read about investing with a tie-in to my favorite Covid show Ted Lasso!
Knowing yourself is so important in investing. When the market acts crazy, which it does often and unpredictably, your present self wants to stop the pain by taking action. Often, these knee jerk reactions are not in the best interest of your future self.
Sounds weird that you need to do soul searching for investing. But it is critical to understand what your tolerance for market uncertainty is so you can take planned actions instead of reacting emotionally when markets go sideways.
In this fearful market, there are a lot of loud voices shouting (bad) advice at you. This article gives you some balanced advice.
Recently I had someone come to me with 7 different variable annuities without an understanding of why her financial advisor had recommended them. Annuities are complicated and can be expensive. There is not a right or wrong answer when it comes to annuities. The key is to know what you are buying and why.
As a reminder, if you have a current advisor or are searching for one, be sure to do your due diligence and check them out on FINRA’s BrokerCheck. I was actually so appalled by what I saw in the woman’s portfolio that I looked up her current advisor. He had 9 dings on his record. That’s 9 too many… Buyer beware.
Happy Lunar New Year! ???? Another reason to celebrate the end of January! Plus our first snow day of 2022!
Til next time!
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BW Financial LLC dba BW Financial Planning is an Investment Adviser registered with the State of Colorado.
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