In a tweet this morning, Carl Richards outlined what to do when your financial plan blows up, and one of the points jumped out to me.
- Micro-action: guess what the next step is. Just the next step.
Even outside the context of a financial plan, that’s great advice for anyone feeling overwhelmed. Take it one step at a time. What’s the next thing you can do?
Here’s what I’ve been reading this morning:
‘Change the Channel; Change the Chatter’ – James E. Wilson
- A great way to change the discussion going on in your own head is to change the information you’re taking in outside of it.
‘How Are Diversified Portfolios Holding Up During the Crash?’ – Ben Carlson – A Wealth of Common Sense
- Ben illustrates how a 100% stock portfolio, a 60/40 portfolio and everything in between have performed during the crash and cumulative returns over the years.
‘Unprecedented Times’ – James Osborne – Bason Asset Management
- We truly are in unusual times, but just how unprecedented is all of this? James dives into that in his latest post!
‘The Essence of Risk Management’ – Michael Batnick – The Irrelevant Investor
- When markets are good, risk management gets thrown to the side. Michael evaluates how a good risk management strategy can save the investor’s experience during market downturns.