If you watch what the stock market is doing, you will know why I call it the “bungee cord market”. This has been going on now for the past couple of years. My Apple Watch shows the DOW on the face. When I see the little arrow – it maybe red and pointing down, or it could be green and pointing up. The direction seems to change 3 to 4 times per week. Each change brings a feeling of dread or a hope of recovery.
But that’s not all! There’s…..
Covid-19
Can’t safely meet up with friends or family
Unemployment Up dramatically
No financial help from the Federal Government
Kids schooling and learning from home
Trying to work from home
Your own personal trauma and family trauma
I almost forgot – a rather spicy Presidential election
Everyone has their own ideas of safety and distancing, not to mention the elections coming up very soon. Commercials, commercials, commercials! Emails, texts, TV, Radio. We are being bombarded with nervous stimuli to the point of “screaming — STOP!!!”
Amongst the grocery list above, we have the bungee-cord stock market. The little arrow on my watch was red and pointed down. I investigated a bit more – down 650 points today. I bet your retirement $$$ took a hit today. The word “hit” means it’s probably not good.
What happens next?
As a result, you could see deep cuts in your retirement plan; and other days a sigh of relief and reassurance. Maybe your retirement investing is out of your control. Most employer retirement plans offer investment in various market products. You close your eyes and hope for the best.
You learn to live with the stress or go into a state of denial.
Can I do anything?
I think you can – to some little degree on most of the grocery list. You can’t change what the bungee-cord market does on a day-to-day, but you can opt to take off a slice of pressure once you get educated about minimizing the bungee-cord ride. Even if you can’t get off entirely, why not make the ride a little less exciting. Not every ride has to be “thrilling”.
What can I do?
I have some ideas for you here. Let’s learn a bit about options you have. Think of them as TUMS for your retirement money.