If you’ve been paying attention to the news the last few weeks, it seems that we’ve been reeling a bit as a nation, and on the world stage. However, it looks like the Ebola mess may be a little more contained than was initially feared (though still very terrible). The mess in the Middle East is no less hairy, but the Dow is recovering a little from last week’s low.
So, after the cool light of a week’s news has passed, businesses and families seem to be adjusting to a new normal. Consumer confidence still remains tepid and the political future seems murky — will these serious problems be addressed with any kind of certainty?
It remains to be seen.
But, I’ll blush a little to say that this humble tax professional’s advice from last week seems to have proven wise. I’ll rehash my thoughts here with a few expanded comments:
Menden’s Key Reminder #1: What you choose to “ingest” over these next few days will greatly impact your state-of-mind.
If you chose to ignore this advice, it’s likely your blood pressure felt the consequences. Truly — the “mass” media do better (financially) when there is chaos, so there is a very real, monetary at least, incentive for them to highlight turmoil. If you’re wise, you steer clear. I’m not suggesting that you stick your head in the sand, just … use a strong filter.
Menden’s Key Reminder #2: The only thing certain about the stock market is that it’svolatile. I believe you saw the truth in this statement?
As I mentioned previously, the market is rising … but though this is NOT “investment advice”, I will remind you that it’s always a good idea to hold fast — sure, the short-termers may have profited from gyrations, but what’s most important, for your family’s financial future, is that you keep the loooong view.
Which, of course, leads me to my last reminder…
Menden’s Key Reminder #3: The only thing you can truly control is yourself. With every passing week, I see the growing truth of this statement. The economy, your job situation, your retirement — it’s all out of your hands, in a very real sense.
That said, we met with families and clients in the Shakopee, MN area last week who were taking positive action. With our advice, just a few small tweaks can realize six figures of true savings over the course of years.
You CAN control your tax strategy … and we can help.
R. Menden Accounting & Tax Service