Getting Beyond the Financial Markets to Personal Meaning
Large-scale negative circumstances affecting financial markets like the historic drop in 2020 after long-term robust gains are often unexpected. The resulting stress on both advisors and clients is not. However, experience with similar circumstances and prior responses can be a useful and positive countermeasure to the typical emotional turmoil that accompanies the loss of certainty, security, and confidence such a financial upheaval engenders. A look back at the last economic downturn of similar magnitude provides some insight into the mindset and focus that clients of all ages experience. Advisors can provide responses to assist clients in maintaining a positive and productive perspective on their lives.