May this find you all healthy and grounded as we ride out this unnerving time of life. I hope revisiting the suggestions below help you during this time.
Whether you listen to the political pundits or the astrology experts and everyone in between, you may feel like Chicken Little, “The sky is falling, The Sky is Falling." The stock market is falling or rising dramatically, depending on the day. Legislation is changing. War is raging. The world is shifting in dramatic ways and there is nothing we can do about it. Or is there?
Rather than stopping to listen to more noise in this erratic world, find out where you can make an impact for the better. That starts with and within yourself. The weather we cannot not do anything about, but we can put on a raincoat when it’s raining. Metaphorically speaking, it is raining now so what can we do?
The Stock Market:
You cannot change what the stock market is doing. So, adding or decreasing your stock holdings will not change much. However, you can change your personal situation by rebalancing your portfolio. This simply means being sure that the risk you are taking with your combination of stock and bonds is appropriate for your needs. Another simple change applies to the new money you contribute to your 401k or other investments. (Do not stop investing.) Change the allocation to a more conservative investment than where it is being invested now. For example, if 100% of your 401k paycheck contribution is going into stock currently, you designate future contribution to be invested half into a bond fund and the other half to a stock fund, or do one-third each to cash, bonds, stocks. That would make it more conservative without missing out or having to make changes again if the stock market shifts.
On the Political Front:
Write your congressperson. Get involved in a campaign. Run for office. Becoming involved is critical to changing the process. Do not sit out the democratic process.
Daily Spending:
Whether it be takeout, Amazon or on-line classes, we all developed new spending habits these past couple of years. Now is the time to reevaluate once again what fits our new world and whether some of what we needed in the recent past is no longer necessary. Even a monthly $9.00 adds up to $108.00 a year that can be saved or spent more appropriately for today. Perhaps you could cancel just one subscription? Check out this video for help
Climate Change:
Reduce, reuse, recycle. Many forget that first one...Reduce what you use. Personal impact matters. And sets a good example. If you are already doing that, find a way to educate others or just be an example in your community.
Charity:
Giving to a good cause of time and money is a powerful gift. When we give money, we are saying “we have enough to share.” We also do the same when we give our time to a cause we are passionate about. Most of all, giving feels as good as receiving and the studies prove it. Neural responses to taxation and voluntary giving reveal motives for charitable donations
Do the next right thing for you. Conscious action steps can help us move forward and decrease the Chicken Little emotional reactions. By taking conscious action, you have something positive to focus on.
Take Care of yourself.