So how do you strengthen your hand? How do you develop the convictions that will help you weather the storms of market turmoil like we’re experiencing now?
Strange as it may seem, the best ally I’ve ever had in dealing with market volatility has been my kitchen table. Sitting down and working through my numbers, from how much I’m making and saving to how much my kids’ tuition is going to be is the best way to come up with a plan for investing. And the best place to work through those numbers had been my kitchen table.
For one thing, spreading out my papers there means I have to talk about them with my family. For another, having the papers where we’ve got to sit down and eat means a.) there’s going to be an end to this; and b.) fighting should be limited to words alone. No throwing food!
It’s been said that people never plan to fail, but they often fail to plan. By planning around the kitchen table, failure is just not palatable.
Douglas R. Tengdin, CFA
Chief Investment Officer
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