Anyone else suffer from FOMO (fear of missing out)? I often get caught up in the allure of on-line courses and want to continue growing myself and/or my business so I don’t miss out on new information, or new methods, or new technology to move me forward.
And by constantly trying to take on all this new information, I unknowingly halt myself from implementing and putting it into action.
Guess what, this “new” information will always be available, maybe in a different format, but I don’t need to worry about missing out!
So what’s the answer? Well, I’m challenging myself to only subscribe to those courses which truly align with my values and will help me reach my goals at the present time.
So how does FOMO relate to money and investing, you might ask? Well, several clients have been asking me if it’s “too late to invest in the stock market?” Have they missed out on the stock market returns? They’ve been listening to the news and are afraid of the correction that’s “right around the corner.”
Let me be very clear, no one can predict the exact timing of a correction. And corrections aren’t all bad. Sometimes the market gets ahead of itself in it’s pricing, and needs a correction to re-align with what’s happening with companies’ performance. Remember, the stock market is pricing what it expects a companies’ performance to be three to six months in advance.
You don’t have to suffer from FOMO, especially when it comes to your money growing. The perfect time to start investing is now! Don’t “should” yourself into shame, and stop yourself from investing. If you know what your financial goals are, and make sure they are in alignment with your money values, you’ll already be ahead of the game! This way you’ll stay on track, start/continue investing, and not react to the news! You can begin your journey to financial freedom now.
A market correction can be scary for many women, especially those just entering retirement or taking income from their retirement accounts. This is understandable. So how do you prepare for the correction that’s “bound to happen soon?” You make sure your investments are in alignment with your goals.
If you’re saving for retirement and there is a bear market or correction, think of it as a buying opportunity. We girls love a sale, right? This is a BIG sale so take advantage of it. Keep investing.
If you’re getting ready to retire, don’t pull the plug! Don’t sell your stocks so you’ll be “safe”. Instead, prepare by having enough cash on hand or in savings for at least the first year (or two) of retirement. This way you won’t be forced to sell your investments in a down market. By the way, no one can predict when a down or up market will occur.
If you’re retired and taking income off your retirement investments, you may want to “reposition your portfolio” to give you a steady stream of income. This is when it’s a good idea to work with your financial advisor.
If you want to continue the money talk about establishing your money goals in alignment with your values, schedule your free 20 minute money chat with me here.
You can always ask money questions in my private Facebook Group, Women Talk Finances by joining here.