We are living in an interesting and rather dramatic time, but that doesn’t mean that we ought to rue the day. The world has always been full of ups and downs, and we have made it through every time before.
Here are three concepts to keep in mind during this season, concerning both finances and our personal lives:
Patience is a virtue we tend to overlook nowadays, but it hasn’t lost its value. We simply cannot ignore the value of patience, especially when we feel uncertain and our instincts tell us to run. When we have faith that things will straighten out, we can be patient during the rough times and come out stronger. While it is only natural to want to mess with our investments when we are uncertain or to panic when we feel the insecurities of those around us, we cannot allow ourselves to give into those impulses.
Things work out as long as we don’t freak out. This may not be the most comforting thought in the world, but to paraphrase Nick Murray in his excellent book Behavioral Investment Counseling: You really cannot know how everything works out; all you can do is understand that it will work out eventually. Whether you look back in history or in your own life, there are cycles...and even the longest winter has a spring.
We are headed in a positive direction. Yes, I said it. As hard as it is to swallow this one
sometimes, we are indeed headed for better and brighter things. While there are ups and downs in every season, the graphs always show us heading in the right direction if we take a step back. This may sound like a broad generalization, but it's true. We are in a better position than we were a hundred years ago, and the same will be true in another hundred years. This is not the time to lose hope or to wallow in despair.
Here’s the thing: we don’t know what tomorrow holds, but if we have any understanding of cycles, we know that this will pass and lush, green days are ahead. Really. While it can be all too easy to look at your current circumstances and feel like things will never change, it just isn’t so - and that applies to both the financial side of things and your day-to-day life. You will see the sun shine again and you're not feeling anything that hasn’t been felt a million times before.
Let me offer this simple piece of advice: perspective is key. I know it's easy to get caught up in the moment, thinking that it's all down from here - but that couldn't be farther from the truth. These are the times that test our patience and make us glad that we had a plan to safeguard our wealth, but we can enjoy life in the craziness as well. In fact, we should. You were born for a time such as this - and you have a purpose only you can accomplish.
Even today.
Especially today.
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