One of my favorite investing quotes is from the late, great Jack Bogle, founder of Vanguard and creator of the index fund. In good times and, especially in bad, I love this quote. You know from my piece yesterday that investors have a way of doing the opposite of what they should.
For example, when you’re unloading the groceries, and a dozen eggs fall to the floor, you might hear, “Don’t just stand there, do something!” The same reaction occurs when bad stuff happens to the stock market. This is when questions are asked, “Did you see the market today? How’s our money doing?” Bogle knew this, and it’s why he advised, “Don’t just do something, stand there!” That’s hard to do when it’s your stocks that have cracked, but often the best policy is to not overreact.
Your Survival Guy’s Warning: Deadliest Markets This Century shows you the worst markets. And Your Survival Guy was on the ground, in the trenches, taking live fire, helping investors get through them. Because when panic sets in with markets, bad stuff happens. One second, you’re thinking, “Wow, who could have imagined sitting at your computer ordering books online to be delivered to your doorstep?” Or that the financial markets, loaded with real estate debt, would collapse? Or a China virus would create medical tyranny?
Action Line: My favorite way for you to make money is to invest in yourself through your work, your career, your business, and to not look for the market to do something for you. With investing, it’s one of the few areas in life where it can be OK to just stand there and do nothing. Easier said than done. Happy New Year from Your Survival Guy. If you’re serious about preparing your family and finances for what’s to come in 2022, click here to sign up for my free monthly Survive & Thrive newsletter. Each month I’ll help you break through the inertia holding you back, and help you achieve your goals. But only if you’re serious.
