Wealth Management & Financial Planning

Wealth Management & Financial Planning

Hear no fear, see no fear, speak no fear!

The long recognized proverb, see no evil, hear no evil, speak no evil, illustrated by the famous three wise monkeys has had many meanings over time. The Japanese origins of the three wise monkeys suggest we are instructed to be of good mind and to demonstrate good speech and actions. So why have I made a simple play on words in switching evil to fear? We can use the same Japanese origin and use our wise monkey friends to suggest a wise person is not easily manipulated by fear.

Living outside of fear is critical for our emotional health and well being. In our world today, social media, news media, and local media are constantly bombarding us with doomsday predictions for the economy and a post-apocalyptic version of the market. So how do we take back our emotional freedom? Luckily, we have no further to turn than to our friends, the three wise monkeys.

Your financial journey is a direct representation of the work you put in along the way. That is also true of your emotional well-being. If you are constantly ingesting negative media, you will feel bad. Our friends, the three wise monkeys, are trying to show us a better way. By blocking out the negativity and constant Armageddon-like predictions, we can live free of fear.

No doubt, some will argue this is easier said than done; however, my colleague Daren Hardesty, CFP, gave us a few tactics from his coaching career through his article, Control the “Controllables.” In that article he stated, “You cannot control the way your brain responds to stimuli, but you can control the amount of stimuli you take in by altering your environment. When you are coaching a team, it is important to remind your players to control the controllables. You cannot control if the umpire will make the right calls. You cannot control the weather. However, you can control the way you play the game and the way you respond to adversity. Too many uncontrollable events are happening in our world right now, and it is very easy to let those things dictate the way you live. I would encourage you to take stock of the items within your control. In ‘The 7 Habits of Highly Effective People,’ Stephen Covey calls this your ‘Circle of Influence.’ Make the necessary adjustments to spend more time within that circle and stop worrying about the things that are outside of it.”

We cannot control the Fed; we cannot control the market. However, we can control how we live our financial journey. Remember, your journey is not based on the day-to-day performance of the market or economy. It is based on the long-term plan that you desire. The highs and lows are inevitable; it is how we plan for them and live through them that matters the most. Let the Financial Enhancement Group be your guide as you focus on your circle of influence.

Financial Enhancement Group is an SEC Registered Investment Advisor. Securities offered through World Equity Group, Inc. Member FINRA/SIPC. Advisory services can be provided by Financial Enhancement Group (FEG) or World Equity Group. FEG and World Equity Group are separately owned and operated.

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