In these very uncertain times where people are bombarded with bad news, I believe it’s necessary to change the focus from fear to faith in every area of our lives.
The definition of fear is the following: it is an unpleasant, nagging feeling triggered by the perception of danger, real or imagined. Does that sound familiar? Fear can cause us to become paralysed in our thinking and doing. It could cause us to live like an ostrich, burying our heads in the sand with the hope that no one can see you or you see no one. Fear could cause us to avoid taking important decisions and doing important tasks.
Fortunately, the opposite is true: Faith means to trust, belief, have confidence and assurance. Someone once said: “Concentrate on the wonders and joys of this life and accept the very best which is your true heritage. It is not being an ostrich, afraid of life and not facing it. It is seeing the reality of this glorious life, which is yours, and in doing so, helping to bring it about. The more clearly you can see it, the more quickly will it some about”. The best news is that you have a choice. You can choose fear of faith.
What is the practical lesson for us in all of this? FOCUS
- Focus on your goals, don’t panic, don’t get distracted.
- Stick to you plan. If necessary, make adjustments as you go along but don’t quit altogether.
- Address important issues, don’t ignore it, don’t postpone.
You are NOT alone, your financial advisor is here to assist. Ask for help. Don’t make irrational decisions. According to a recent Canadian study by the Centre for Interuniversity Research and Analysis of Organizations it shows that by working WITH your financial advisor it gives you 3 times more peace of mind, 3 times better retirement preparation and 2 times better readiness for an emergency.
It also shows that clients who receive advise has an increased savings rate, better portfolio diversification and have more tax efficient investments. I’ll close with this quote ”sticking with an advisor introduces more disciplined behaviour during periods of market volatility”