Let’s face it, our economy has been ridiculous over the past 2 years. The stock market goes up and down and there is a large amount of uncertainty out there. Many people are fearful. Real estate has been one of the most stable assets recently as it has gone up or maintained value, but many other asset classes have been up and down, and it is making investors uneasy.
January of 2022 has been a bad month overall for the stock market and December was a fantastic one. I have lost quite a bit of money personally over the past month, but this is just how it goes. I don’t worry about it.
Volatile markets are a CERTAINTY if you are investing your money.
Losing money is a CERTAINTY if you are investing your money.
Winning money is a CERTAINTY if you are investing your money (if you are smart).
Markets going up and down are a CERTAINTY if you are investing your money.
Listen, if you want your money to grow for you so you can reach financial independence, then you need to accept the fact that your investments will go up and down. You need to accept that volatility is just part of it.
This is what I want you not to do: SELLING YOUR ASSETS WHEN THE PRICES ARE LOW! That is dumb… You never buy high and sell low, yet so many people do this because they freak out. They think they are going to lose everything. This doesn’t happen as long as you have a balanced portfolio, and you haven’t put all your eggs in one basket. Yes, if you invest all your money into one stock, then you could lose it all… But remember, as an Elite Nurse Practitioner, you should have implemented financial redundancy into your life:
Multiple investments into multiple different asset classes.
Having an emergency fund.
During these uncertain times, you need to keep a level head and understand that this is just part of the game. Continue saving your money and investing it. During times where the market loses a lot of its value is the time to BUY MORE. That is what the smart investor does, and in return, they will profit greatly. Millionaires are made during bad times! Remember that!
And also, don’t forget to continue investing into your business. Putting money into your business is one of the few investments you can make in your life where you have almost full control of it!
So, stay reasonable. Stay logical. The future might be tough, or it may be good. We just don’t know.