In the investment world, like on a sailboat, it’s the strong winds that propel you forward.
We would all like calm ocean breezes while sitting on the beach sipping something cool to drink.
But In the markets as in life, there are ages and stages:
It’s in the down cycles that prepare and catapult you forward. The rough waters in down market cycles is where the famous Warren Buffet quote comes into place:
Be fearful when others are greedy. But be greedy when others are fearful.
-Warren Buffet
It takes nerves of steel to chart a course into distant waters and land is not in sight.
The smooth waters that the Christopher Cross song brings to mind in his Yacht Rock hit “Sailing” has its place when you’re older and retired.
But when you’re younger, it’s the growth stage that gets you to your financial destination.
You need something strong to move you like “Mustard on the Beat (oh!)”.
Everyone’s risk tolerance is different. So figure out what yours is, and proceed accordingly.
-Monk
How would the lives of you and your family change if you knew how to WIN the financial game that you’re already playing?
To the youth, young adults, and the mothers who raise them, Financial Literacy: Monk Says… Learn the Game