Having Conversations with Fear

Fear. It is an emotion that is there for our protection from anything that could do us harm. It can also stop us from making progress. In modern society, it is not the primitive beast that we have to fear taking our lives. In much of the world, we have developed where danger like that is very rare. However, being free from that kind of danger opens us up to a different beast that lives in our minds and hearts-fear.

One area that fear can stop us from making progress is in our personal finances. It can stop you from sitting down and making a budget because you don't want to see the results that making a budget would reveal. Perhaps you have the feeling that money is tight and you'd rather not face it, but face it you must if you are to succeed financially.

You may have heard that you need to invest your money in order to build wealth for yourself and for those who come after you. Then, one day you turn on the news and see that the market has taken a dive and you are fearful of losing your money. Have a look at this chart of the S&P 500 performance for the year 2022 at the end of the day on April 26. This looks horrible and shows a 12% drop.

Source cnbc.com

Now let's zoom out and look at the S&P 500 performance since it began.

Source cnbc.com

Now, that’s much better, right? That's what is waiting for you when you invest your money over your working years-average annual returns of 10 to 12 percent overall. Fear will have you focus only on the first chart, but zoom out and see the second one and be encouraged.

Making a budget will help you determine where your money is going and set goals so that you are able to invest your money for your future self and your heirs.

It does not make you weak to feel fear. Nor is it something for you to be ashamed of. Even some of the most tenacious competitors get butterflies in their stomach sometimes. Have conversations with fear. Look it in the eye. "Why are you here? Where did you come from?" Dig deep into the fear but always know that this fear is something to be respected, but not something that should forever rule your life. It's understandable to struggle. You may even need an accountability partner. If that is what you need we are here to help you. Our goal is to help you meet your goals and walk with you so that you can not only do well for yourself and your children, but for your grandchildren as well.

Reach out to us today to learn how to overcome your financial fears.