While some younger investors may not have been through market conditions like we’re experiencing currently, most of us have. And, as Russell explains in this video, experience teaches us that eventually, the market bounces back.
You can watch this video and others on the Voice Wealth Management YouTube channel.
Transcript:
Hi, this is Russell Rivera, Voice wealth management. I want to welcome you back to Warren's blog series. Obviously, if you're a younger investor, bear markets like the one we're going through, and this one will be different than the last couple, for different reasons have been, you know, are very challenging to deal with. Obviously, the inflation that we're dealing with in our everyday prices in everyday lives, makes a much, much different toll. Then there are markets we've gone through, but people sort of forget that we've had multiple times in the last 15 years, which is the last time we kind of had this sort of economic scenario around us that we've gone through bear markets like this.
We had one in 2020 with the beginning of Coronavirus, which made sense, everybody kind of understood it. But it happened in 2018. It happened in 20. Markets are down 20%. It happened in 2015. With the markets down at time. It happened in 2012, the markets went down just the stock markets were down just below 20%.
So these things have happened before, and even in young adults' lifetimes. And we bounce back. You know whether or not this is one of those longer 2002-2003 scenarios where it takes a long time to get back, we'll see. But at the very least recognize we've done this - we've gone through before drawn through fairly frequently. Yes, this one was different certainly goes to be but for different reasons. And it might see too, so just have some patience, recognize there's a lot of life ahead of you. And especially not getting involved before and you're thinking about getting involved with the markets now. This is for many an opportunity usually is so thanks very much. Russell Rivera, Voice wealth management, and we'll see you next time.
Russell D. Rivera, CFA, CFP® is the Founder and President of Voice Wealth Management (Voice) in New York, NY. He also likes to think of himself as a Personal CFO and Financial “Therapist” for entrepreneurs, young professionals, and their families. He helps clients make prudent financial decisions regarding spending, saving, investing, and planning while giving a voice to the individual client's financial priorities and experiences.