Recessions stir up anxiety and fear. And that’ll trigger panic and rash decisions, which can lead to big losses.
So resist the panic trap that can come with recessions.
If you can keep a level head, and follow these six steps, you’ll be empowered to weather any recession–and any personal financial hardships you may face outside of recessions.
Presidential election years bring a lot of uncertainty and stress. And that’s not just for the candidates who are running.
The good news is that you can avoid the frenzy around the upcoming election—and the stress and poor financial choices that may come with it—if you know the facts about the markets during presidential election years. Knowing these facts can help you keep a level head no matter what the outcome of the next election is.
Humans aren’t robots. While the fields of economics and finance were built on models that assumed entirely rational decision-making, research has found that’s rarely the case.
Humans behave irrationally and make emotional decisions about money and investing all the time. Use these mental tricks to help overcome your inner irrationality and be smarter about money.
When scouring investment headlines, the reality is no expert or fee-only CERTIFIED FINANCIAL PLANNER™ knows what the market is going to do today or next week. If a “financial expert” claims to know what will happen today in the market, you should run for the hills.
When google searching “best investment advice”, it’s important to understand that no financial advisor in Austin, TX or elsewhere in the US has a crystal ball for how the market will perform. Suze Orman, Dave Ramsey, Jim Cramer and other CNBC “experts” haven’t proven the ability to predict market events either.
