We took a lot of road trips when I was a child. Much to my parent’s chagrin, I would usually ask (at least a few times per trip) the age old question – “are we there yet?”
I wasn’t trying to be annoying, I promise! I was simply tired of sitting still, tired of waiting for the next event, tired of being a bit uncomfortable in my seat, anxious about when we’d stop for a break, and uneasy about not knowing exactly where we were going or when we’d arrive. Tired, anxious, and uneasy. On repeat. For hours.
As we approach the end of the third quarter in an exceptionally challenging year for investors, I find myself feeling tired, anxious, and uneasy yet again – just like I did in our family station wagon all those years ago.
We’ll see how the quarter ends today (I’m writing this on September 30, 2022) and I’ll come back to the final quarterly results next week. But regardless of today’s market action, it has been a difficult and exhausting year.
Interest rates keep rising, inflation is sticky, markets are in bear market territory, outlooks are bleak, the world is on edge for a whole host of reasons, and every day there is seemingly something else to worry about.
Tired. Anxious. Uneasy.
Needless to say, we are all ready for this part of the ride to end and for us to arrive at our destination. So, are we there yet?
Your definition of “there” may vary from mine. Maybe you are wondering when we’ll find a bottom, or when rates will pause, or when inflation will abate, or when the market will stop moving 2% on a daily basis, or when you can stop working, given the market decline…. Whatever destination you have in mind, my guess is you too are ready for it to arrive – and soon.
I wish I could give you an answer as to timing for your specific leg of the journey. But sadly, I don’t know for sure. No one does, no matter how confident they sound on the financial news.
How are we going to handle the rest of this ride? Here are a few strategies that worked for my parents on all those road trips (with a few words on how I apply them today when it comes to investing in these markets). Maybe, just maybe, they can help us to
We’ll get there eventually – and once we do, we’ll simply begin the next leg in our journey. Accept this one for what it is, do all you can to endure it, focus on the bigger picture, and most importantly, stay the course. As was the case for all those family road trips, the journey is always worth it in the end.
Onward we go,
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