Market corrections hurt. They can come out of nowhere.
If you know these facts about corrections, you can keep a level head and healthy perspective whenever the markets retreat. That can help you avoid overacting. It may even open your eyes to new opportunities.
Each year, that’s billions lost. Seniors alone lose at least $2.9 billion a year to con artists. And they aren’t even the most vulnerable marks. Millennials are.
So, why are financial scams more rampant and lucrative than ever before?
In a perfect world, logic would always guide our financial decisions. Emotions wouldn’t come into play. But we don’t live in a perfect world. Far from it. That means our emotions impact our financial choices more than we realize.
In finance and in life, expectations often eclipse reality. They become anchors for how we evaluate opportunities and our own sense of happiness.
They also make us fixate on what could or should have been, not what’s right in front of us.
“If you aim at nothing, you will hit it every time.” – Zig Ziglar
That’s true for most aspects of life, including our finances. Most of us realize that. It’s why we set New Year’s resolutions—and why more than half of all Americans set some type of financial goal as a resolution each year.
