On this week's episode of the Financial Clarity for Doctors podcast, we chat about a topic on the top of many people's minds this past year, timing the market! Over the years, many clients have come to us concerned about investing when we are at this stage in a market cycle. At the time of recording this episode, we are trading near all-time highs. No one knows when we will hit a peak or when the market might have another correction. And NO ONE wants to be the person that puts in a whole bunch of money right before a correction. We can take an educated guess, but our educated guesses are often wrong. what do you do? Focus on the things you can control.
How long you are invested is a much better predictor of investment growth than the exact moment you invested or the specific stocks/etc. You invest in.
A few tips and takeaways from this episode:
Focus on What You Can Control
- How much you invest, what you invest in, how you react to market events, how much you need to live on.
- Nobody can control returns. Bernie Madoff claimed to be able to assure returns... look how that turned out.
- Lots of uncertainties in life. Worrying never solved anything. Greed gets people into a lot of trouble.
For more financial planning tips from Corey and Rachelle, find them on LinkedIn: @CoreyJanoff and @RachelleVanderzanden; Instagram: @CoreyJanoff and @VanderzandenRachelle; and Twitter: @CoreyJanoffCFP and @RachelleFinance
Discussions in this show should not be construed as specific recommendations, legal, or investment advice. Always consult with your investment professional before making important investment decisions—advisory services through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Through Cambridge Investment Research, Inc., Securities are offered a registered Broker/Dealer, Member FINRA/SIPC. Finity Group and Cambridge are not affiliated.