Investing in turbulent markets is much like Driving on Ice. The feeling of loss of control is scary, and our brains don’t like that feeling. Therefore, it prompts us to remove that feeling through action. Unfortunately, just like when our car is sliding on ice, our initial financial reactions are often the wrong ones. One such example is the desire to suspend contributions to retirement savings during down markets.
Read MoreThe CARES Act rule changes giving easier access to retirement funds will certainly act as a much needed lifeline for many Americans in desperate need. For those that are not in dire need for short term funding, however, taking advantage of the ability to access retirement funds without penalty can be expected to have tremendous negative effects on a retirement savings plan. It would amount to shifting a race car into reverse during a race.
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Helping my clients negotiate the twists and turns of their financial lives is my passion. Another of my passions is Motorsport. As an avid driver and driving instructor, I’ve found over the years that the concepts utilized across these passions often overlap. Focusing your vision far ahead, finesse, and commitment are all necessary to be successful in both arenas.
As a Partner with Clearwater Capital Partners, I not only use these concepts to help solve problems for my clients, but to help them build an understanding of how to hit their marks in the future.
© 2018 The Apex Advisor
Investment Advice Offered Through Clearwater Capital Partners, A Registered Investment Advisor
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