If your life revolves around your brokerage statement balances, then maybe you need some changes. There are many more important things. Your health. Your family. Your non-business interests. Your dreams and fantasies. Don’t misunderstand me – your asset balance is important, but it should not sap your energies.
Markets run in cycles and last year we were heading toward the bottom of a cycle and now it looks like we are at the peak of a cycle. Hopefully not and that it will keep rising. However, if your goals are for long term financial security, then you should not get too caught up in the daily, weekly or monthly changes.
I want to talk now about another important thing in your life. We could all agree that health is more important than your wealth. Both are important, but the health should rank higher than your balance sheet. Hopefully, your health does not run in cycles but remains steady or if you are in poor health then on an upward slope. So might I ask whether you obsess daily about the ups and downs of your health? Probably not unless there is a sudden change such as a stroke, heart attack or a terrible diagnosis after a visit to your physician.
If you value your health greater than your wealth then perhaps you should pay daily attention to it (as many do to their wealth). It’s not that hard. Eat a little less. Make better choices about what you eat. Definitely reduce the sugar and salt you consume. Exercise regularly. Get a good night’s sleep. Reduce stress (such as by making more realistic commitments, meeting deadlines and not talking about people that are not present). And work at this every day. Treat it with the same interest you expend on a falling stock market. At least with your health you can do something to improve it. With the stock market, you cannot really do anything except possibly getting out of it. Be conscious of your health and how you manage it, and watch it pay dividends.
Place importance, effort and your energies on something that matters more than everything else.
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