As many as 80 per cent of investors are stressed about their personal finances and the economy, according to a recent survey conducted by the American Psychological Association. Hardly a surprise, given that most of them never anticipated this kind of stock market upheaval.
What’s the solution? Well, right now, it’s all about keeping a cool head and not following the herd. And, the best way to do that is to review just how you got here in the first place.
When people start to worry about money, their thoughts often run much deeper than what is in their portfolios. A market meltdown like the one we’ve been experiencing can often be a gateway into unresolved family histories and insecurities.
If this sounds familiar, have a look at “The Financial Wisdom of Ebenezer Scrooge” by father and son psychologists Ted and Brad Klontz.
