Shownotes
Today we bring you more messages of hope from our past podcast guests. We are all feeling the pressure and anxiety from the COVID-19 pandemic. But together, we can beat this crisis and thrive in it.
- If you have invested for more than three years, but are only now experiencing short-term losses, do not obsess about the reduction in value.
- Losses of 20% to 30% are normal. Understand that equity volatility is the price you pay for capital appreciation over the long term.
- Now is the time to differentiate between income and wealth.
- During this COVID-19 pandemic, wealth that investors have accumulated over a lifetime has eroded in value as the market has crashed. But were you making good returns before? If yes, take this opportunity to top up your investment.
- Set up an automatic investment schedule. This removes the emotion from the process.
- If the market sinks further, do not fret, most of us are investing for the long term anyway.
- One thing that’s holding us back from dealing with this crisis even with excellent advice is acceptance.
- We subconsciously hope that after COVID-19, things will return to how they used to be, and so we are not living in the reality of the situation.
- The tension between the logical part of knowing what we have to do to change and adapt, and the emotional part yearning for the stability of the past is what is causing pressure, anxiety, and even depression.
- When we accept, we can move on and do what we need to do to move ahead and let go of that yearning for the good old days, and we will be able to cope better with the current situation.
- A crisis can be an opportunity for your company to thrive just look at delivery companies such as DHL or UPS. They are reporting figures which are the same as the pre-Christmas times, and these are the busiest times of the year.
- Don’t break the law even during holidays. Staying at home, it will calm you down and give you peace of mind.
- The current situation is a bit tense. Nonetheless, let’s do what we can to cope with the situation and hope that it will be over soon.
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