Unless you don’t have a TV & don’t get on the internet (in which case I’m not sure how you’re reading this), you can’t help but notice the S&P’s roller coaster ride the past few weeks.
Being in the industry I’d have to say 50% of the people I know asked my blood pressure and stress levels recently. I’m thankful I have such good people around me that are concerned with my health, but I calmly explain the following:
Initially, it can be shocking when you see such numbers in HUGE BRIGHT RED CAPITALIZED font, but what you have to realize is
1) that is what the stock market does. There are time when it goes up, down, WAY up, WAAY down, but it’s part of the stock market. If I had a sensitive system, I shouldn’t be in the field.
2) Wait it out. If you have securities in the market now, talk with your financial planner about the optimal time to sell; if you HAVE to. If you’re investments are for long term goals, just change the channel to reduce your blood pressure.
3) It’s a buyer’s market. This is when smart individuals capitalize on an under valued stock. People are freaking out so much they’re throwing the baby out with the bath water. Smart people know how to catch that baby.
4) I’ve already preemptively sent emails to my clients explaining what’s going on before I have to field their calls. Keeping your clients in the loop is key to low blood pressure in this business.
5) The reason I’m in this job is keep the fires at a minimum, teach out what I know, and keep a cool, collected head when fires do come up.
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