What are our thoughts on the Market?
That is probably the number one question the Power Forward Team has been hearing since October. Before October, our clients rarely asked about timing their investments. Now that the market has been down approximately 3,000 points over the past 3 months, it’s at the top of everyone’s mind.
So what are our thoughts?
Well we don’t have any. It isn’t that our minds are empty, rather we power forward with clear minds.
Like Coach Taylor from Friday Night Lights says “Clear Eyes, Full Hearts, Can’t Lose”
Our team knows what we don’t know. We don’t know what:
The President will say or tweet, same for Elon Musk; we don’t know where the trade war with China is headed, the real effect of Brexit, what the Fed will announce next and a hundred other things we don’t know.
So let’s continue forward with what we do know. We know how different accounts are taxed and the value add that can provide. We know that long-term savings require consistency and diligence. Most importantly, we know that financial success is created by planning.
Building a Financial Gameplan starts with identifying financial goals. Having a goal-oriented framework allows us to rephrase the original question from an objective one to a subjective, helpful one. Rather than what are our thoughts on the market, the question becomes how does volatility effect my goals? That is a question we can tackle. It is that answer that should define our savings process for each of those goals.