The Wise Words of Mike Tyson
Due to the combination of many factors, including mainstream media and social media, Americans are having a collective meltdown about the stock market. We're acting like we've never been here before, and panic is setting in unlike anything I've seen since 2008. Even the people who nodded their heads in agreement with my advice just two months ago are capitulating to fear-based self-destructive decisions.
It reminds me of Mike Tyson's infamous quote: "Everyone has a plan until they get punched in the face."
Considering the U.S. stock market is down 17.4% since February 19th, let's call this the punch in the face Mike Tyson was referring to!
People are scared, angry, confused, and anxious. As such, please allow me to give you one other data point. Even after the recent 17.4% gut punch, we're still up 104% over the past five years. You heard that right, we're still more than twice as high as we were five years ago.
We haven't seen the stock market this low since, well, May 2nd, 2024. Yes, we're freaking out about the stock market going down to a point where it was just 11 months ago when it had recently hit an all-time 153-year high.
Why is nobody talking about how the stock market fell more than this in 2022? And why is nobody talking about how the stock market fell much more than this (and much quicker) in 2020? And why does nobody talk about how this has happened 21 other times before that, all with the same amazing outcome? It's almost like someone wants us to be scared this time. It's almost like there are motives for people to freak out right now.
Don't buy the hype. Don't let this stuff spin you up. Don't lose sleep. Don't panic. Don't make rash decisions. Don't sell your investments. Don't alter your behavior. Don't berate your neighbors. Don't get on your soapbox. Don't light a stick of dynamite and throw it into your relationships. It's not worth it!
Just live a meaningful life.....period. The rest will take care of itself.
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