The talking heads are all panicking. The news channels are eating it up because bad news sells. Everyone wants you to believe the financial world is on fire and we're all doomed.
(Created with Bing)
The world is always on fire. Not all at once, but there are always financial problems happening globally. And yes, we're doomed. The current fiat Ponzi scheme is ultimately doomed to fail, but I don't think it's reached critical mass quite yet.
I'm not saying to not check on your investments. At the same time, if you're confident that what originally attracted you to make the investment hasn't changed and the fundamentals are the same, do you need to?
If you're like me and see a buying opportunity, sure, check on it. When COVID hit and everything was tanking, I took a $10,000 loss to move funds and position my 401k into different investments that suddenly got 50% cheaper. The fundamentals hadn't changed, but everyone was panicking and selling. I set dividends to reinvest at bargain prices, and by the time the hysteria over COVID had subsided, my 401k had DOUBLED in value.
You can choose to wallow in the doom and gloom. You can also use it to your advantage. As for me, Blue Oyster Cult said it best: "Don't fear the reaper."
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