As expected, the typical doom and gloom resounded today through the media circles as the Dow had another high-profile plunge day and tested levels not seen since 1997. It’s hard to keep any optimism about yourself when it seems that every day, your retirement and investment portfolio trends lower and lower. If you’re interested in a little bit of perspective, consider the following brief and easy to understand history lesson in the power of time, compound interest, maintaining perspective, and investing for the long-long term.
The following is a chart of the Dow Jones Average from the 1997 levels through today:
And for a bit of perspective, a chart of the Dow Average once again, this time from 1928 through today’s levels.
I hope that the point is well-taken. With a little bit of perspective, we can regain our senses, re-evaluate our goals with a clearer head, and hopefully come to the conclusion that things may be bad, but not as bad as many seem to think. With many of us on 20, 30, even 40-year retirement horizons, this brief market hiccup may soon be passed and forgotten on our way to prosperity.
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This is why investing is so hard, it always feels bad to buy low. That’s why many people hire a financial planner to keep them on track, just like they hire a personal trainer to help them lose weight. The key is to find someone who is a good fit for your situation and personality. Sites like http://www.claroconnect.com have advisors that specialize in business owners, socially responsible investing, gays and lesbians and hundreds of other niches.