When the stock market declines, the resulting steady drumbeat of negative news reports can drive many people to flee the markets. Making decisions out of fear (or any other emotional trigger) rarely leads to successful long-term outcomes. It's hard, because one of the most unsettling aspects of market downturns is the fact that they are out of your control. Here is a list of suggested actions to consider - which historically have resulted in helping to weather market lows. Tune Out The Noise It's ok to not check your portfolio balance when the market is falling. Turning off the financial news might be smart if it keeps you from making mistakes based on emotional decisions. Revisit Your Asset Allocation If you happen to be near retirement or in retirement, or if you simply lose sleep over downturns, you may need to reevaluate your risk tolerance. Together, we can figure out the balance of stocks and bonds best suited to your comfort level with risk and other personal circumstances. Control What You Can: Costs Expenses eat returns, and their bite is particularly painful during market corrections. We can explain options for removing high-cost investments from your portfolio in ways that minimize the taxes due from their sale. Set Realistic Expectations U.S. stock and bond markets have posted remarkable returns in the past few decades. Statistically speaking, it would be prudent to expect lower returns in the future. Together, we can develop a plan that still achieves your goals, despite potential headwinds of lower returns. Stay Diversified Downturns offer case studies in how different asset-class and sector exposures can help to insulate your portfolio. Having conversations about risk tolerance, as mentioned above, helps us to better understand your investing style and what's most important to you. With this greater insight, we can go over diversification options for your portfolio that blunt the impact of downturns while putting you on track to achieve your financial objectives. Remember, you don't have to follow the crowd and you don't have to make emotional decisions. Stick to sound investing principles, have a plan, and let us know if we can help. About the Author- Brent Hoskins is a Kansas City-area fee-only financial planner . Focal Point Financial Group provides comprehensive financial planning and investment management to help individuals and families organize, grow and protect their assets through life’s transitions. As a fee-only, fiduciary, and independent financial advisor, Brent Hoskins is never paid a commission of any kind, and has a legal obligation to provide unbiased and trustworthy financial advice.

Attempting to find meaning in "things" can often lead down a dangerous (and unending) path toward dissatisfaction and can put people in a vicious cycle of desiring more and more and yet feeling as if they never have enough. Solomon shares a number of helpful insights on materialism in the book of Ecclesiastes. I love the way author Randy Alcorn summarizes and paraphrases some of Solomon's statements from Ecclesiastes 5:10-15 : “Whoever loves money never has money enough” (v. 10). The more you have, the more you want. “Whoever loves wealth is never satisfied with his income” (v. 10). The more you have, the less you’re satisfied. “As goods increase, so do those who consume them” (v. 11). The more you have, the more people (including the government) will come after it. “And what benefit are they to the owner except to feast his eyes on them?” (v. 11). The more you have, the more you realize it does you no good. “The sleep of a laborer is sweet, whether he eats little or much, but the abundance of a rich man permits him no sleep” (v. 12). The more you have, the more you have to worry about. “I have seen a grievous evil under the sun: wealth hoarded to the harm of its owner” (v. 13). The more you have, the more you can hurt yourself by holding on to it. “Or wealth lost through some misfortune” (v.14). The more you have, the more you have to lose. “Naked a man comes from his mother’s womb, and as he comes, so he departs. He takes nothing from his labor that he can carry in his hand” (v. 15). The more you have, the more you’ll leave behind. So here we have someone (Solomon) who never lacked having enough money, concluding his remarks by stating: "When I surveyed all that my hands had done and what I had toiled to achieve, everything was meaningless, a chasing after the wind; nothing was gained under the sun" Ecclesiastes 2:11. Money is a tool... not something to endlessly pursuit, or you (like Solomon concluded) may just be "chasing the wind". About the Author- Brent Hoskins is a Kansas City-area fee-only financial planner . Focal Point Financial Group provides comprehensive financial planning and investment management to help individuals and families organize, grow and protect their assets through life’s transitions. As a fee-only, fiduciary, and independent financial advisor, Brent Hoskins is never paid a commission of any kind, and has a legal obligation to provide unbiased and trustworthy financial advice.