Tune out the noise
As consumers, we’re attracted to content with an interesting hook that elicits a strong emotional response, even fear. “Coronavirus Shock is Destroying Americans’ Retirement Dreams” is the name of a real news article published in March 2020.*
When you see a headline like this, recognize it for what it is: an attempt to get your attention. Because of the market downturn, it’s possible that some Americans won’t meet their retirement goal in the timeframe they planned. This doesn’t mean they won’t have the retirement they’ve been dreaming of; it means they experienced a setback, which is a known risk of investing.
In most cases, failure to meet a predetermined goal doesn’t translate to a lower future quality of life. Keep planning for the long term. When it comes to the market, what goes up comes down—and vice versa.
If you need help tuning out the noise, consider speaking with an advisor or sharing your feelings with a trusted friend or family member. Hearing someone else’s point of view may give you the context you need to develop a healthy perspective.