I am not sure if it is the result of the 24 hour news cycle or the 24 hour news cycle was created because of it, but doesn’t it feel like there is so much noise out there? There is always the next war, the next economic boom/bust, the next deadly disease that is going to wipe out America (come on do you even remember bird flu?)…the next looming disaster that is going to completely change the way we live, but I was reminded today that almost none of it matters when it comes to the foundation of your personal finances.
My reminder came today from a source that I often forget about and then love catching up on, Behavior Gap. If you have never visited the site, it is a must “read” – the posts are mostly cartoons that usually make you think, “wow it really is that simple” (I have never listened to the radio/podcast). Yesterday’s post titled, It Just Doesn’t Matter, really did make me think, “wow it really is that simple”
Regardless of the current investment book you are reading, or what current enemy wants us dead your basic personal financial plan shouldn’t really change all that much because of what is happening on the news on any given day.
- If Fox News tells us the eastern seaboard is going to be dead from the Flamingo Stomach Virus you should probably still pay off your credit cards;
- If MSNBC is arguing to take away all your guns, you should probably still dollar cost average into your 401k and get your match; and
- If CNBC is on its 58th straight hour covering whether Janet Yellen is going to take a shit you should probably still be spending less than you earn
Because in the end the world keeps on spinning!
Good points – have a plan, stick to it, don’t assume anything.
… and beware of the Flamingo Stomach Virus – I hear it’s nasty