The recent market turndown can make us feel like we are not making progress toward our retirement, estate planning, and other financial goals. But that is not what history shows. In fact, if we stand firm we can make progress and stay on track.
Staying on Track: History's Track Record
The market is impacted by the news and fluctuates regularly. But this has always been the case. Though it can fray our nerves to watch the volatility of the market, looking backward helps us to look forward. Staying put in our long-term investments is what has worked in the past. And there are possible opportunities that can also help us to stay on track.
Staying on Track: Is this a Buying Opportunity?
Instead of looking at the downturn as falling behind, we can look to see if there are opportunities to invest. Dips in the market can be a boon. Consider prayerfully researching and supporting businesses and ministries that fuel your passion by investing in a BRI (Biblically Responsible Investment).
Staying on Track: Trust in God, Not the Market
Right now Hurricane Ian is pummeling Florida and we wait to see when things will be calm again. We know the hurricane cannot go on forever. So, too, market downturns and corrections are a part of a cycle. My hope is not in my ability to impact the hurricane or the market. My hope is in Christ.
We stay on track when we don't give in to worry and maintain our mindset with consistent financial practices. In the end, the goal we have set and are working toward will have moments that are a little unsettling but those who remain steadfast don't have to ride the rollercoaster.
*All investing involves risk and there is no guarantee that any investment strategy will be successful. Past performance does not guarantee future results and investing during any market cycle poses risks including the loss of principal.