Attended a retirement party of a friend which made me think … about personal finances and financial planning during unsettling times.
Gratitude that 401K balance did not crash or that you even have a 401K; many people don’t. Many people don’t have healthcare plans. Many people don’t have good health; Many people don’t have secure homes. Many people don’t have education. Many people don’t have a choice. Many people are struggling and it’s not pretty. There’s too much wealth in the hands of so few so the division is greater between the Have’s & the Have-Nots and those with “white privilege” seems out of touch. Hope there’s a balance in spite of the extreme, radical, evil, violent and hateful rhetoric, we know most Americans, including nearly 50% who did not vote, that most people are good people with good hearts. Big Hearts. Just not well informed or not giving it (politics/government) the attention. Too busy. Too bankrupt, time-wise, morally, intellectually or emotionally. Financially, many were afraid of this uncertainty because you know who appears quite impulsive and rash … which breeds fear. That flip flop, taking action from the seat of his pants kind of truly nasty and reactive rhetoric is … scary.
Yet there’s this for comfort:
The bottom line: The U.S. system of government has many checks and balances designed to mitigate the risk of extreme policy changes, so ignore the noise, let the dust settles and abide by your long-term asset allocations. Reacting emotionally is a time-tested poor strategy for managing one’s money. During times of uncertainty, it’s important to craft a financial plan designed with sound investing principles, and keep your eye on your long-term goals.
– Charles Schwab Newsletter
My take on this advice is analogous to my yogic perspective on all:
– Ignore the noise. (yoga techniques I can share are priceless)
– let the dust settle. (don’t let the mind get cloudy or dark – like after a cleansing rain storm, seek clarity, feel it, spell SMELL it, sense it.)
– abide by your values and principles. (the truth “Satya” of non-violence, non-harm but exercising free expressions to embrace differences)
– Do not react emotionally – unless it’s about LOVE:) (I say that we honor them – anger, sadness, fear … honor them but do not be attached & react irrationally.)
– Eyes on the prize – long term goals over short term hysteria. (we are all connected; we are ONE; free trade and fairness for greater pies and more innovations; protectionism and isolationism instead of globalization creates impoverished economy as a whole – if anyone took basic college level economics, we learned this – so free college education for all! Hi Bernie!!)
