In the meantime...
Try to mute the noise.
Blaring headlines, negative and aggressive news reports, and instantaneous access to information can exaggerate your emotions and increase your fears. In fact, neuroscience has shown that the amygdala – the part of your brain that initiates feelings of fear – is an almost irresistible force. It’s important to set the daily news aside and focus on your long-term plan. A long-term financial plan still remains the best way to steer through volatility.
Just when you think you’re in it, you’re probably through it.
Experience has shown that typically half to three-quarters of a bear market is usually complete by the time the market acknowledges it’s in one.
Remember, rampant pessimism is actually a good sign.
It is often precisely times like these, when everyone throws up their hands, that can represent a key bottoming phase in the markets and often some of the greatest investment opportunities.
Stick to your plan.
Your financial plan has been developed with you in mind. It has taken into account your time horizon, risk profile, investment knowledge, and many other details specific to you – and these details ensure your plan is tailored and suited precisely to your needs.
If none of your major goals or objectives have changed, it is likely that neither should your financial strategy. Don’t allow short-term market action to derail your long-term plan.
Mark Kinzel, Executive Vice-President
“Despite ongoing volatility and its impact on the current value of your investments, a long-term financial plan is the best possible way to steer through the uncertainty.”
