Good morning, good afternoon, good evening. Depending on the part of the world you’re in, this is Jonathan Satovsky of Satovsky Asset Management. On today’s vlog, I’m trying to help people with their wealth, with a little bit of wisdom, and their overall wellness. I want to give a little perspective on impulse control today.
What am I talking about? Well, during the calendar year 2023, there were four extreme moments. Two on the fear side, extreme fear, and two on the extreme greed side. Now, looking at the data in culture and society at large, as you would expect, the vast majority of people during periods of extreme fear were sellers of equity-oriented assets. And during periods of extreme greed, people were buyers, extreme buyers, of equity-oriented assets. And by a survey done by Fidelity, they actually measured the performance of various accounts and they realized that the accounts of people who had passed away, who were dead, outperformed the living because they couldn’t react to those emotional pulls at extremes.
So, design a plan with your advisor. Design a support system and structure, taking into account your unique situation, balance sheet, cash flow, and your own psychological safety so that you can be calm and confident on your path to Wisdom, Wealth, and Wellness.
Have a great year ahead.
