“The weather’s been crazy up here,” he said. “The crosswinds on the landing strip are the worst I’ve ever seen.”
This was part of a conversation I had with a client yesterday. He spends weeks at a time fishing the big country of Alaska. He said the winds were so bad, guys he knows crashed their bush plane and, luckily, thanks to pilot awareness, walked away from it.
He said that on the last trip, the fishing was excellent. It was the first time he could recall where they were the only ones on the river. They caught enough silvers (salmon) to feed them for the rest of the trip. “But,” he said, “It was one of those trips. The four wheelers, side by sides, wouldn’t start when we were packing up to head back.” That’s life.
That is life. Because Your Survival Guy knows there’s a big difference between investment plans and investment actions. You learn on the go.
Because I know the difference between talking investments and actually managing investments. I remember all three busts we’ve already been through this century and talking through it all with clients. That’s action. Sticking it out is decision making at its best. And it’s best done while collecting dividends and interest. Being patient.
I remember like it was yesterday. He called his friend during the real estate bust. His friend asked, “Doctor, what are you doing?” And he said, “Nothing.”
“I sold everything,” his friend said.
Years later, when the subject of investing came up, my client asked his friend if he ever got back in. “Nope,” he said.
And that’s the problem with market timing. It feels good initially. But years go by, and nothing’s been done.
Action Line: Don’t let emotions run the show. Have a plan and find someone who can help you pilot through thick and thin. Your Survival Guy wants the world for you. But only if you’re serious. Because I am.
E.J. Smith - Your Survival Guy
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