Having a Plan and Sticking with It

Do you have a financial plan that is ready to withstand whatever the next year may hold? We talk about sophomore slumps, real estate, and stock market volatility in today’s episode.

During the second year of a new U.S. president’s term, the stock market may experience what’s often called a “sophomore slump” and go down. What can you do to prepare in case that happens in the new year? Brian says you need to start with a plan.

Do you know if your risk tolerance matches what’s in your portfolio? Everybody loves the upside, but hates the downside of having risk. There’s always going to be a correction, so expect it. Right now, the real estate market is hot, but there will be a time when it falls. If you’re thinking about investing in real estate, understand what that investment means.

A new poll asked if people use their dishwasher to wash their dishes. Instead, they use it as a drying rack or storage. Does this happen in retirement planning? Sometimes clients will try to use one product for something other than what it’s intended. How does Brian convince them not to use retirement funds for something other than retirement? Some of the best investors are able to stay the course and focus on their real goals, regardless of what turns the market takes. Are you prepared to withstand market volatility?

Listen to the entire episode or skip ahead using the timestamps below.

Honest Takes:

[0:12] Are we due for a “sophomore slump” in the stock market next year?

[1:43] What should you consider about investing in real estate?

[6:24] What do some people use for something other than intended?

Today’s Truth:

“If there’s a negative trend, we think that’s the way it’s going to be forever, when that’s usually right when it turns around.”

Brian Bowen


The Host:

Brian Bowen – Contact