Investing In Our Habits Ep. 100

While it looks all but certain that we are heading into an economic recession, it’s important to consider what positive outcomes may be possible during this time. It’s also important to understand that if we do experience a setback due to market losses, we may be able to recover more quickly if we have good investing habits in place. Part of this habit is developed at the outset with clearly defined expectations on how to or how not to react when the market declines.

I recently watched a video from Craft Ventures about its raising of assets for private investors to place their money in. It mentioned that a couple iconic companies such as Google, Amazon, Airbnb, and Paypal were founded during the early 2000s Dot Com market correction. Many of us are very familiar with the success of these companies, regardless of what major obstacles have come their way. These companies are prime examples of how having the right financial habits set in place can set you up for long term success.

Ultimately, what the government is intending to do with increasing interest rates is to bring down the cost for our everyday goods. This hopefully means we’ll soon be paying less for basic necessities like food and gas. The economy tends to slow down during these times which often allows us to gain new perspectives about what’s most important to us in our lives.

For some, this could be physical assets. Others, like myself, hold family as the most important thing in our lives. Regardless of what this is for you, one thing is clear, we need to make sure that what we do have is cared for, protected, and secure.

With a well thought out, all weather proof financial plan in place, the necessity to fret about a downturn in the economy is lessened. Planning allows us to not have to dream about what we want. It allows us to work toward our aspirations, and that’s exactly what we help our clients do each and every day. Whenever you’re ready to talk more about this, please call us at 864.641.7955.

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