Emotional volatility
Good morning!
I regularly get replies to these emails (which I love), and in a response to last week's email about the potential problems with getting scared out of the market, reader Gail said,
"...folks who jump ship aren't struggling with market volatility as much as they are with emotional volatility."
Thanks, Gail. You're right, and I'm stealing that phrase for future use.
While I lightly touched on emotions and feelings in my email last week, I think this concept of emotional volatility does a much better job of capturing what it was I was attempting to communicate.
After all, money - and the stories we tell ourselves about money - is emotional.
And emotional volatility isn't limited to money. It can also surface in our relationships, in our work, and in other areas of our lives.
My belief is that emotional volatility isn't something to be controlled or willfully ignored.
No, the better approach is to acknowledge your emotions and make decisions, not in spite of them, but in acceptance of them.
With money along with everything else where emotions play a role in your life.
So what do you think?
Hit reply and let me know.
Links & things
If you haven't checked your credit reports lately, it's good to do from time to time. And to improve your personal identity protection, I recommend freezing all 3 credit reports which you can do online. To help you get started becoming more familiar with your credit:
We're wired for storytelling. From the stories we tell ourselves (both positive and negative) to the stories we tell each other, it's one of the oldest forms of communication. Here are a few short stories from Morgan Housel:
Thank you, as always, for reading.
And if you have any questions or an idea for a future newsletter, blog post, or YouTube video, I'd love your input.
Just hit reply - I read (and appreciate) every email you send.
Until next Wednesday,
Russ