Your Survival Guy

Preparing your investments and family for when disaster strikes.

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Investing Takes Faith

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Coronavirus Infects Stock Market: Part XXIV

Once again, you’ve been telling me all week how much you miss Richard C. Young’s Intelligence Report.

That’s OK. I’m used to it especially in times like these.

But don’t despair.

If you’ve followed Dick’s advice, through thick and thin, you’re in the catbird seat today, because one of his most enduring messages has always been to be a prudent investor and to know thyself. To know thy risk tolerance like you know your family. (Sorry about the sheltering in place!).

It takes faith to invest. It takes a little push forward to get you out of the nest.

I get it.

I was speaking this week with a prospective client who lives in California. He said, “E.J. am I crazy sending my life savings, all that I’m worth, to Newport, RI?”

I said, “No, you’ll feel right at home. The politics are about the same.”

“In reality,” I said, “you’re simply putting your money with Fidelity Investments (Why Fidelity is #1), and we’re helping quarterback the portfolio like Tom Brady.” (Now, of course, I’m not comparing us to Tom Brady. We would never leave New England.)

My prospective client said he and his wife prayed the night before with God to help them make the right decision.

I misspoke and said, “Maybe the three of you (rather than us) should speak on a conference call.”

He said, “I didn’t know you had that power.”

Remember, investing takes faith.

I u-n-d-e-r-s-t-a-n-d.

I also understand that what you should do and what you actually do are two entirely different states of mind—they’re not even in the same country.

Read my entire series, Coronavirus Infects Stock Market here.

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E.J. Smith - Your Survival Guy

E.J. Smith is Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. His focus at all times is on preparing clients and readers for “Times Like These.” E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@yoursurvivalguy.com
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