We are only two weeks deep into 2016 and I can’t believe how nasty the markets have been! To say gut wrenching would be an understatement.
While looking at the charts hurt that feeling is dwarfed when you actually sign in and see your accounts significantly lower. There are a few things that give me some solace.
I am Relatively Young so Who Cares what the Market Does Today
Does it really matter what happens in the market today? I am only 34.
Warren Buffett’s Old Adage
It has been quoted and talked about, ad nauseum, but one of Buffett’s most famous quotes always makes me feel better:
It is a reminder that better times are ahead. Maybe those better times are not tomorrow, or next week, but at some point in the future you will look back and think, “wow, I wish I bought when I was terrified.” How many people do you know who would have loved to have buy almost any stock they could in 2009? 2002? 1989? etc.
So all in all, DO NOT PANIC!