Change can bring out a lot of our emotions, some at opposite ends of the spectrum. For some, change can be exciting. For others, it can be incredibly uncomfortable, even bringing out fear and anxiety. I think it’s true that we, as people, prefer order and predictability in our lives, which probably makes us naturally resistant to change.
For example, think about your job. No matter the task, when you know the rules of the game, you’re comfortable generating a plan for how to try to succeed. And having a plan allows you to feel like you can better influence or even control an outcome. Changes to rules can sometimes mean having to redirect, rethink plans, or even start all over, and all that can be uncomfortable.
Change can be tough for financial markets too. Those that follow our blogs or hear our philosophies on investing have heard us say countless times that the markets loathe uncertainty. Change in economics, monetary policy, legislation, etc., all mean companies need to change to new rules, figure out new plans and try to figure out new ways to get ahead. And that sometimes leads to volatility.
But….change is inevitable. And how you react is one of the most important factors in your likelihood to reaching your goal. Everyone has to learn to adapt to change by reviewing their strategies, their principles etc. in order to move forward in the face of uncertainty. It’s why we preach having a financial plan that can adapt to change, to new rules, to new assumptions in your financial lives.
History shows us that financial markets are actually wired for change, over time. And so are humans. We might not always feel it, or willingly admit it because predictability and order is very comforting. But as a motivational speaker I follow named Dennis Mosley-Williams says, “Change – whether we seek it or it seeks us and whether it seems positive or not – fine tunes our senses. It sharpens our listening, our observation, our critical thinking. It lifts our energy. It drives us to regain control, to jump into action.”
We are in the midst of change in this country. We need to be prepared to adapt to new rules. So review your financial plan. Review the assumptions you’ve made. If you don’t have a financial plan, consider calling us. We are here to align your personal values, vision and wealth, through all the changes that occur in your financial lives… whether comfortable or not. Because change, is inevitable.
Content in this material is for general information only and not intended to provide specific or advice or recommendations for any individual.
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