Coffee With Mike- Investor Confidence During Coronavirus

I'm hearing this question, "What's going to happen next? What's going to happen in the market next?" Another question I'm hearing is, "How long is this going to last?" That's about the coronavirus, really. How long is this going to last? We have no idea how long the virus is going to last, and we have no idea what's next when it comes to the virus or the market, and so really the question is not what's going to happen next or how long is this going to last, but really, how are you situated right now and are you comfortable in understanding what you have, in terms of your investments, what you have, where they are, and why are they are there? 

Do you have confidence that what's being done for you is being done in your best interests? Do you have confidence that this was shaped for you? That you're not just doing something that "everyone else is doing", but you're doing something that is really tailored for you? That's really the important thing because we have no idea how long it's going to last. I actually googled that, "how many times did the market look like it was recovering when it really wasn't?" You can go through any period of time and you can see this on the charts right? This up here is down, here's down, here's up. In fact, this is what it looks like for us right now. It looks like a rollercoaster and it probably feels like a rollercoaster too. 

So what's next? Well, what's next is that it's going to go up, or it's going to go down, but we don't know which. When it goes down, we know it's going to go up or down, but we don't know which. So in 2007, October 2007 through March of 2009, we saw this, right here, just continuing to go down. I'm just making this arm movement of a downward trend, but with the ups and downs within that trend, we don't know. All we know is that we have to be confident in the situation, in the position we're in, the position that our investments are in, and so this is the time to get that confidence. If you're not confident let's talk about it, and if you are confident let's maintain that conference. 

Let's know why are confident. It's not just that we're confident in it, but we're also confident in her/him, the person who's helping us, and not that we're just confident in either of them, but they were also competent in them. Then finally we're confident in ourselves. Your self-confidence has some foundation to it and that foundation is the relationships that you've built with your investment team, with your planning team that allows you to realize you're in the best place you could possibly be to reach the goals that you've set for yourself, and this is just this is a time that calls for perseverance.