Financial Residency Financial Vitals: How Market Downturns Look and Feel
What do market downturns look like? Understanding what they look like or what they have looked like historically is helpful. We can't predict the future, but we do know what happened in the past in order to navigate better if and when history is repeated.
In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how market downturns look and feel based on market history and market factors.
Topics Discussed: • Long View: Have a financial plan that ties your goals to your actions • Timing: What if it's not the right time? Maybe it's the worst possible time to invest • Franklin Templeton: People recover fast, the scariest time may be when to invest • Financial Information: Where to get it and who to trust • FOMO: Fear of missing out on what everybody else is doing with investments • I Bonds: When inflation is high, investments are terrible, they look appealing • Reminder: What is the purpose of the money and what's the goal? • Alternatives: You're potentially moving away from the best route for your goals
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