Fear not only kills your investments; it can crash an entire stock market. Many have said that the stock market is driven by both fear and greed. These emotions are the secret sauce to market volatility, and the irony is that they feed on each other to create more volatility. If you consider the market as your only strategy to save for retirement, it becomes a merry-go-round of recklessness.
Fear and the Market
Fear is your built-in mechinism to warn us of danger and offer protection, yet it can actually perpetuate bad decision making, causing even more problems. When we talk about the stock market, most people know what causes a crash (everybody selling at the same time). Yet, when we look at our portfolio and decide it may be time to bail, only a small part of our brains knows we are part of the problem. Fear of recession, global slowdoan, falling oil prices, and outcomes of presidential elections have made the market an incredibily risky place to hang out.
For decades we’ve been told to place our retirement money into 401(k) plans and the money will grow. But considering how fragile the market is, and the stakes for which you are playing, a 401(k) retirement plan has become a recipe for fear—an uncertianty that breeds fear of loss, old age, poverty, and survival. The irony is that all of this fear circulating through the collective psyche only creates more instability.
Warren Buffet was once quoted as saying, “Unless you can watch your stock holding decline by 50% withouth becoming panic-stricken, you should not be in the stock market.” We completely agree, and that’s why we want to show you a better way to harness fear and a better way to save for retirement. Ultimately it is you who are the decision-maker for your portfolio and your retirement fund. Taking back control of your savings and financial strategy is the first step to financial peace.
What You Can Do
When it comes to the current economy, a tremendous amount of fear circulates through our collective psyches. But you have choices. You can wallow in it, create more of it, or you can debunk it. We want to help you identify it for what it is and work with it as motivation to better financial decisions. Even the most financially successful people experience fear, but their success comes from transforming the fear into certainty and excitement using these techniques:
Research and identify what you’re afraid of.
One of the biggest causes of fear is fear of the unknown. The more you learn about the stock market as well as other options for growing your wealth the more you will be able to adopt strategies that will decrease your fear. Make a list of options and strategies and research each one thoroughly. We want to share our solution called Infinite Banking with you too.
Make a plan/prepare.
When you don’t know what you’re going to do next and you have no financial plan, fear does creep in. Use the fear as a signal that you need to make some positive changes in the way you’re planning for your future. Set very clear financial goals—write them down along with your plan to achieve them and by when. It’s time to dive in and make any changes to your overall strategy. Now you’re taking action and reducing your stress.
Replace your inner dialogue to “I’m excited.”
Labeling your fear as excitement can take you from paralized to prepared. Excitement is a more managemble emotion and is a motivator to overcome what may be holding you back. Try rewiring your brain by saying out loud that you are excited whenever you feel fearful.
“The only difference between ‘fear’ and ‘excitement’ is what we label it.” –Peter McWilliams
Regardless of your retirement savings strategy, if anyone tries to get you to buy something out of fear, rethink both the product and the person selling it to you—because every time you make a decision based on fear, you lose regardless of the outcome.
We want to be the first to help you transition from fear to excitement about your financial strategy and retirement savings. What if we told you that you can build a retirement foundation using one of the oldest, most consistent wealth-building vehicles. You can. The strategy is called Infinite Banking and it involves whole life insurance with a cash addition. Let us tell you more about it.
Alleviating our clients’ fear of financial instability is one of our main missions. We do this by offering ways to grow your wealth, access income, and leave a financial legacy along with financial education. In that vein, we want to share more about Infinite Banking, and we are excited to invite you to take 2 minutes to sign up for a FREE, extensive eCourse called Infinite 101®. You’ll receive access to video tutorials, articles, and podcasts. It literally costs you nothing to become educated on this ideal financial strategy and start changing your wealth paradigm!
Take advantage of this FREE resource by clicking below.