Every stock market crisis is different, but the best way to deal with them is always the same. We can’t control crises, but we can control our response to them. You want to be prepared to deal with the unexpected before it happens. Not when you’re stuck in the middle of it.
One of the biggest hurdles to preparing for this level of elder care is simply knowing how to get started. How do you plan for the unknown? How do you have the difficult conversations?
Since 1926, the US stock market has rewarded investors with an average annual return of about 10%. But it’s important to remember that returns in any given year may be sky-high, extremely poor, or somewhere in between.
If you have parents that are getting up there in their years, preparing and making decisions on their care before a crisis happens is the best-case scenario. Preparing now should be a part of every financial plan.
The most basic forms of financial planning are nearly worthless: because they are based on overly simplistic assumptions of a linear path in life and money that are simply unfounded. Find the countermeasures you can take.
Is it just our imagination, or has there been an uptick lately in exciting new trading tactics for seizing riches from exotic new markets? What are these SPACs? What are NFTs and how can you trade them?