Good morning and happy Friday,
I’m sure my clients and friends are tired of hearing me talk about how trying to “time the market” is a bad idea. July was a great example of why I talk so much about it. After several very tough months, the S&P 500 was up over 9% in July alone. It has gained several more percentage points in August as well.
Will it keep going up? Who knows. We don’t try and guess WHAT will happen or WHEN it will happen. We develop and implement strategies based on specific goals that consider risk tolerance and time horizon, among other things.
When your financial plan is tethered to specific goals and action items rather than to the performance of an arbitrary index or benchmark, you aren’t mentally tossed back and forth when the markets go up and down (which they do often).
If you don’t yet know what goals you are planning for, we can help. I’d love to help get you figure it all out.
Grant Ellis, AIF® | Managing Principal