Think back over your life.
Five, 10 or even 20 years ago.
Do you remember every single day within a given year?
Most likely not.
Overall, you remember the big moments.
Maybe five years ago, you were retiring. Maybe 20 years ago, you’d just been promoted.
My point is, while there are bad days — and even weeks and months — in our lives, we tend not to remember them.
Instead, we look at our end goal.
Take me, for example. I have a 3-year-old daughter, and she means the world to me.
But if I remembered every single day of her life, including every tantrum, missed nap and erupting tooth, I can confidently say I would never get up in the morning.
But I’m moving toward something greater with her than just one bad day. Her first dance recital. Her first day of kindergarten. Heck, even her first day of college.
And imagine how much I would have missed if, on the day I brought her home from the hospital, I said, “Nope, this is too hard. I’m out.”
Now, stay with me.
Investing in the stock market is a little bit like parenthood.
When there are highs, they’re high.
You capture a triple-digit gain on Tesla. Or maybe you were one of the lucky ones that got into Terra early.
You can’t help but go around and tell your friends about your incredible streak of luck.
But when the lows come? Man, are they low.
As of Friday morning, the S&P 500 Index and the Dow Jones Industrial Average were set for a third consecutive week of losses.
And the Nasdaq Composite Index was tiptoeing into correction territory. It’s on track for its worst week since October of 2020.
Cryptos did no better.
Friday morning, bitcoin fell below a six-month low of $38,000, while Ethereum and Solana followed suit.
It’s easy to feel discouraged at times like these.
You may think: “It would be so much easier if I just packed everything up and called it a day.”
And you could. But you would, far and away, miss out on potential gains.
Look at the market panic in March of 2020.
Within a week, the S&P 500 dropped 12%. The Dow dropped nearly 13% in a single day.
But what happened after that?
Since its bounce-back in mid-March of 2020, the S&P 500 is up 95%. And the Dow is up 81% since then.
Now, past market behavior is no guarantor of the future. But it does tend to repeat itself.
Do you really want to miss out on an important goal — retirement, a new car, a down payment for a house — just because of a few rough weeks in the market?
And keep reading below for this week’s Winning ideas.
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Senior Managing Editor, Banyan Hill Publishing