Tip of the Month: Trust the Process & Prevent Buyer’s Remorse
In the world of investing, it’s common for some people to experience a bit of buyer’s remorse. Not the kind you get when you make a big Black Friday purchase, but the kind investors might experience during times of market volatility or turmoil. But, we understand that it can be tricky to take emotion out of investing and that’s why we’re here to help. This month’s “Tip of the month” offers three takeaways that might help ease your mind.
- Trust the process. It’s important to trust your investment strategy and do your best to tune out the talking heads that create fierce headlines and may strike fear or hesitation into an investor. At Fort Pitt our long-term investment approach allows us to stay focused on your financial goals, while not reacting to short-term noise.
- Make decisions when life’s circumstances change, not your emotions. It’s best to make allocation changes based on what’s changing in your life, and not your emotions. Some life events that could drive change include retiring, switching careers, expanding your family, or receiving a raise.
- Ask for help and guidance. Part of having trust in your investment decisions is knowing exactly what they are. A financial advisor can not only help take some of the emotions out of investing, but they can answer any questions you might have along the way so that you know exactly what you’re investing in and what the strategy is to accomplish your financial goals.