INSURING YOUR INCOME-EARNING ABILITY
Securing your financial well-being is one of the most important things you'll ever do. No matter how much or little money you have, the important thing is to start, get good information, and not be distracted every time the wind blows.
Some people try to "read" the market and stay one step ahead of trends. The result is often confusion and anxiety over every market fluctuation and how they should react: Should I buy or should I sell? Hibernate with the bears or run with the bulls? Move into bond funds, put more into stock funds, or go for safety in fixed-return vehicles?
There's good reason for uncertainty. Until recently, our financial markets had enjoyed an up-up-and-away boom. Today, it's more like a roller-coaster ride in the dark through Scary Mountain.
Two recommendations for peace of mind in your long-term strategies:
1. Don't ignore your protection needs. While investment markets may rise and fall, life insurance can provide durable protection for your family, especially during volatile economic times. Protection is the foundation of individual financial security, so be sure to review your insurance coverage and make sure it is in sync with your current needs.
2. Put today's financial trends in long-haul perspective. In spite of periodic corrections and a few frightening free-falls the big-picture trend is steady, overall growth. The Dow Jones Industrial Average (insert footnote) -- a consistently reliable indicator -- has enjoyed steady expansion, with periodic corrections, over the last 50 years.
The key: You must be prepared to weather the short-term ups and downs of market volatility. There is always risk when it comes to investing. So, it is important to protect yourself and your assets -- to minimize your downside risk while attempting to maximize your upside opportunities. Here are several tactics:
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I get tremendous gratification from encouraging people to focus clearly on their future final success and security.
Larry Brasel, President