I rarely write about finances in response to the stock market, even with my clients at RLS Wealth, as I believe the best course of action is to stick to the plan and not make emotional decisions about your finances. The stock market has had enough short-term “damage” in the last few days. It doesn’t look like it will end today, which has prompted me to record a short video to send them in my weekly Monday email to acknowledge how they are feeling, remind them of their plans, and revisit the scary market experiences we’ve had together.

I’m pretty sure this might be the first time the term “stock market” has appeared in a Daily Note—I hope it’s the last.

For obvious reasons, this note will be different from what I send my clients.

But money is an important part of the equation for aligning with your authentic life, and I wanted to address the importance of having your finances aligned with your authentic life. I have twenty years of experience helping clients design financial plans, and I can say without a doubt that having a plan for your finances makes navigating times like now easier and can help prevent you from making emotional decisions that will negatively impact your goals.

If your finances are aligned with your authentic life, you should stick to the plan because your authentic life is THAT important to you—it’s important you don’t deviate from your plan.

I’m well aware “stay the course”, “stick to your plan”, or “the best action is inaction” is not what you necessarily want to hear, but if you have a plan and it is aligned with your authentic life, then I genuinely believe sticking to that plan and not reacting to the short-term market actions is the best thing for you to do.

And if you want to take advantage of times when others are fearful, find ways to lean even more into your authentic life!

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See you tomorrow and keep pursuing,

JC