COMMUNITY LIVING
Here ’ s how smart investors ride out the storm
. . .
The cost of living is rising rapidly . Global uncertainty is taking its toll on markets , leaving people wondering about their long-term financial wellbeing . For many , this means one thing : time to reexamine their retirement and investment strategies .
32 I N V E S T M E N T
But before you go making any hasty decisions , stop . Think . Now is the time for cool heads , to keep your eye on the bigger picture , and to keep talking to your advisor , says Stian de Witt , CFP ®, executive head of financial planning at NMG Benefits .
' We work hard for our money , and it ’ s easy to let our emotions take over when we believe our life savings could be negatively impacted . But when you act on an emotional impulse , it often leads to a bad investment decision that can have long-lasting effects . The way to make sure your longterm strategy stays on track for positive growth is to stay calm and rational ,’ said De Witt .
Investor ’ s remorse is real . A recent MagnifyMoney survey showed that two out of three investors end up regretting impulsive or emotionally charged investment decisions . And once investor ’ s remorse sets in , the investor is inclined to become even more risk-averse , which means they could miss out on market recovery and growth .
So , how do you stay calm and keep your investments on track in the eye of a storm ?
Stian de Witt