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.
- 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.
ENJOY!
