In this month’s Reality Check, we wanted to address the recent outbreak of coronavirus and its impact on the developed world; more specifically the impact on the market.  We hope that you find it helpful. 
 
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In this month’s Reality Check, we revisit another sketch by Carl Richards.  If you couldn’t tell by now, I am an avid fan of his work.  If you are interested in learning more about him, please don’t hesitate to check him out at https://behaviorgap.com/.  This sketch, like most of his sketches, is driven by a specific topic; this one happens to focus on portfolio design, which also happens to be its title. 
 
As a Certified Financial Planner TM, goal-focused planning is second nature to me as it is at the center of what I do for you. It is hard not to be overwhelmed by the unsolicited advice that tends to focus on how you should invest, rather than why you should invest.  In our experience, a purposely driven plan is going to give you the best chance at achieving your goals throughout your lifetime. 

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Every month, our firm sends out a Reality Check to our clients. The topic varies month to month, but it typically covers various aspects of behavioral investment counseling and financial planning. On the heels of the recent volatility over the past week, we thought it would be useful to provide a few paragraphs from a commentary written by Brian Wesbury, an Economist at First Trust, that put a lot of the recent events into perspective. 

Regardless of what the financial media is stating as the cause of this pullback, i.e. Fed Rate Cute, China, Trade War, Current Administration, etc., you must understand that it is only temporary.  Following the herd and reacting to the volatility can do irreparable harm to your plan.  As Nick Murray says, repeat the following mantra: This time is not different. This too, shall pass. Of course, these moments can still be stressful and by no means should you ignore stress.

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