Before the article, here’s what’s happening this week on our podcast, Personal Finance for Long-Term Investors:
Editor’s Note: I published this article on April 9, about 45 minutes before President Trump announced a 90-day pause on tariffs, sending the market **rocketing** skyward. I’ll be surprised if this is the last of the tariff tantrum, and I stand by every question below. Happy reading!
I want to float these punchy, Socratic questions out there and let them sit. I want you to pause and think.
I don’t want to tell you any of my answers or any “best practice” answers. Those answers don’t matter. Your answers matter.
It’s a bit like therapy. It’s not about me. It’s about you, and it’s important that you come to your own conclusions.
- Is Mr. Market being manic or depressive right now?
- Did your goals change in the past week?
- …Did your timelines change?
- What does your financial plan require you to do right now?
- If the stock market closed for the next five years, would you be comfortable with what you own today?
- If the political party flipped, but the other facts stayed the same…would you still feel the same way?
- Are your current decisions driven by evidence and analysis?
- What does “long-term” mean to you?
- What will happen if you do nothing at all right now?
- Are you chasing certainty in an uncertain world?
- Is discomfort a reason to act or part of the ride you signed up for?
- What are your expectations of a “worst-case scenario” in your portfolio? Are we there?
- If you sell now, what’s your plan for buying back in?
- Have you rewritten your personal investment philosophy?
- If you weren’t already in the market, would you choose to invest today?
If you want to chat, drop me an email –> Jesse [at] BestInterest.blog
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We’ll talk to you soon!