Seeing negative returns on your portfolio statement never feels good. Have I made the right investments? Did I choose the right advisor? Will I be able to retire comfortably?
In this current market volatility, you’ve likely asked yourself one or all of these questions. The easy answer is “stick to your plan”. But that only works if you’ve had a plan to “stick to” from the get-go.
At The McClelland Financial Group, our intention is to create a plan that puts our clients in a position to achieve their goals – whether that is to retire early; buy a house; pay for their children’s university education; or transfer their wealth to the next generation. Your investment plan is a contributor to the overall plan, not THE plan.
For a more in-depth look at the current market downturn see the Dimensional Fund Advisors article So What’s Your Plan for The Bear Market? Your overall plan should be created with the expectation that markets don’t always go up. If that is done appropriately, then dealing with bear markets will be part of the plan.
