How to Tame your Market Fears

This is a timely article given the volatility in the markets recently. In Europe, they have officially entered recession. How much longer before North America declares we are in recession? How and what will the new President-elect do to avert recession? Will recession hit us in Canada? What will it mean to my day-to-day living? These are but just a few questions most people ~ at least those following the news will ask.

I, personally, have never fully understood the market, have never followed it and rarely ever read my registered retirement savings plan statement. Well, I've made attempts to try to know it, read up on it and take interest in my plan. It seems the only time I notice it is when I've lost some money! Of course, when we lose money, we never see our Brokers, they only come to visit when we've made money.

So, I thought, I read the article on "How to Tame Your Market Fears" hoping to learn something new. The article had some good advice on how to invest, how to stay positive - even during this market turmoil and more importantly, where to invest.

I like the term: it's a destination not a journey! For sure, as you set your goals, this is what you have to keep your eye on, not on the day-to-day highs and lows (more lows these days). As the article states, it will cause you unnecessary anxiety which may result in knee-jerk reactions such as selling. Selling when it hits a low will more than likely cause you to lose money. As the article reminds us, focus on the big goal!

It's probably weird to some people right now, but i recently bought some Mutual Funds, on the advice of my Bank. This is my slow entry into the world of Markets, i know little, but that's ok. I will learn as I go along, and hopefully, I won't lose (too) much money.