Uncertainty is the defining characteristic of the world we are in today. Trying to understand and compete in volatile markets can feel very confusing. Emotions will swing.
Those investors who always assume they are in control start to wobble as they see blows coming from all directions. And investors who rely heavily on their advisors to steer them could well be dealing with an advisor who is shaking and going through emotional swings of their own. However, investors and advisors who are behaviorally smart – that is, they know at a deep level their financial approach and reaction to markets – will survive this season.
Surviving the current market
Facing an economic meltdown, investors that ride out this tide of uncertainty are the ones who are behaviorally smart. Not because they hold impressive degrees, though they might, but because their greatest investment was the 10 minutes they spent getting to understand their hard-wired financial personality.
Yes, they may be required to manage the fear creeping into their family unit, but they themselves are confident in the decisions they have and will make as the world rocks. They know how to keep their heads and trust the decisions they made in more stable times.
They understand that life goals matter, markets will recover, and in every crisis staying cool and true to your inherent financial personality means you can see opportunities that market lows present.
Financial personality revealed
So, what will be revealed if you take time out from your home isolation to complete the Financial DNA Natural Behavior Discovery?
- Risk behavior – risk-taking and tolerance.
- Financial relationship management – communication style.
- Financial planning management – spending and saving patterns.
- Wealth building motivation – goal-setting propensity.
- Financial emotional intelligence – emotional reactions.
- Your Behavioral Biases – biases in making decisions.
And so much more.
We are committed to helping you answer these tricky behavioral questions and helping you to understand your financial personality, especially during these tumultuous times we are sharing.
I’ve put my teams on standby as a service to the financial industry to do all we can to help you manage your financial behavior. To start, consider these offers:
- Schedule a no-cost 15-minute consultation with one of our pros.
- Take your own Financial DNA Natural Behavior Discovery, at no cost and with no obligation.
Mainly, be well and be safe.