From December 2019 to November of 2022, a lot happened. Here’s a reminder of a few of them: 1. A global pandemic hit. 2. Bitcoin and other cryptocurrencies CRASHED. 3. Inflation spiked to the highest levels most of us have ever experienced. 4. And Russia invaded Ukraine. So... not great stuff. What would you guess the stock market did over this period of time?
And I tell you the following with transpire over the next 3 years:
A Global Pandemic
Bitcoin and other Crypto Currencies will CRASH
Inflation will increase to levels You or I have likely ever experienced
Russia will invade Ukraine
Would you assume the stock market be UP , DOWN or FLAT ?
Be honest...
The actual return in the stock market was 10% (annualized)
I hope you are shocked and don't believe me... but, it is true.
Despite a pandemic, crypto crashing, inflation and war... we still saw 10% growth.
What should be learned from this?
Here are some ideas:
Figure out what you NEED and what you DON'T NEED
Set aside money for EMERGENCY each month (or year)
Always save a PERCENTAGE of your income
In other words, focus on what you CAN control, not on what you CAN'T control.
2020 saw a steep decline in the stock market due to the COVID pandemic. We saw some of the worst single day drops in the stock market... ever. What if you were spending money on things you didn't need? What if you had no emergency savings set aside? What if you were living off EVERYTHING you made? 2020 might have been more emotional and anxious then it needed to be.
Financial success is determined much more by BEHAVIOR, not intellect.
HAVE A FINANCIAL PLAN - Uncover certainties about your Financial Future
WATCH MY QUARTERLY STATEMENTS VIDEO - Link in description of my Youtube video above
MONTHLY SPENDING NUMBER - Figure this number out and be grateful when you have enough in your investments to pull that amount out.
Sources & Disclosures found in the video link on Youtube