Well, how are you feeling?
I got my first “what should I do with my money” question last night, as it became clear Trump had an advantage and futures on the major US indexes plummeted. Seeing all of the Facebook and Twitter posts, news articles and tv analysis this morning reinforced that the fear and anxiety over what comes next are very potent.
I’m with you.
I stayed up late to see if what was unfolding would somehow be undone at the last minute. I tossed and turned in bed as my unconscious mind grappled with what a Trump Presidency means for me, my family and my friends. And even as I type this, numbness fills my body as my default coping mechanism for dealing with anxiety.
Despite all of the emotions right now, I know my job as an advisor and personal finance blogger is to prevent harmful, emotional decisions for my clients and readers. I gave this advice during Brexit and previous drastic market fluctuations, and will give it here – take a breath.
You should have a plan in place that reflects your values and goals. And those haven’t changed. The plan should also have a long-term view, with the understanding that there will be times of turmoil.
So stay the course and be cognizant that making emotional decisions in a time of despair can lead to costly mistakes. If you need help, let me know, and we can work through it together.
Time will tell what consequences this election will have on the environment, economy and LGBTQ rights. Whatever comes, we can handle it.