If you've ever watched the movie Office Space you know that opening Scene when Peter is in traffic and tries getting in a faster lane only to watch it stop and the lane he got out of speeds up. Even if you haven't seen the movie I think we've all been there when dealing with Traffic. That's the premise for this video we just posted to our website.
We're getting questions from clients wanting to now pull money out of the market in preparation for another downturn. Generally, people say they will get back in at a "good time" or after a certain % drop, or they simply want things to normalize, possibly after the election or after we have a vaccine. I recorded a short 7 minute video so you can see on our website that gives my response to these types of questions.
While we empathize and in some cases even personally agree with some of these ideas, we also recognize that lessons from the past show us it's incredibly hard to try and time the market AND more importantly we don't need to attempt this to have a good experience.
Aside from the financial outcome of this which are going to be one of three things, it's going to work, it's not going to work or it didn't matter... the Emotional toll you will experience of trying to time the market will be much more devastating and can possibly last forever. You may not believe that but trust me I’ve seen people deal with this.
All of this said, Our position is that market timing isn't necessary and should NOT be attempted, however NOW might be a great time to revisit your appetite for risk and possibly look at a more conservative portfolio long term depending on how you have handled (emotionally) these last few months.
If you have a question or would like to schedule a call/zoom with either Ryan or Mike Click the links below.
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