How Market Downturns Look and Feel

What do market downturns look like? Understanding what they look like or what they have looked like historically is helpful. We can't predict the future, but we do know what happened in the past in order to navigate better if and when history is repeated. In this episode of the Finance for Physicians Podcast, Daniel Wrenne talks about how market downturns look and feel based on market history and market factors. Topics Discussed: Long View: Have a financial plan that ties your goals to your actions Timing: What if it's not the right time? Maybe it’s the worst possible time to invest Franklin Templeton: People recover fast, the scariest time may be when to invest Financial Information: Where to get it and who to trust FOMO: Fear of missing out on what everybody else is doing with investments I Bonds: When inflation is high, investments are terrible, they look appealing Reminder: What is the purpose of the money and what's the goal? Alternatives: You're potentially moving away from the best route for your goals Links: Playing the Probabilities - Wealth of Common Sense Blog What If You Only Invested at Market Peaks? Bob - The Terrible Market Timer Learning from the Lessons of Time - Franklin Templeton Brochure What To Do When Your Investments Start Tanking The Power Of Diversification Investing During Wild Markets with David Blanchett Free DIY Financial Planning Guide for Physicians Dow Jones Industrial Average Contact Finance for Physicians Finance for Physicians Full Episode Transcript: What's up, guys? Continuing on with the theme of last time, we're going to be talking about downturns in the market. We talked about (last time) how to navigate a scary investment market, and I gave you some tips on actions you can take. I think the big takeaway from that conversation was making sure you have a solid financial plan that includes an investment plan. If you don't have one of those, that's important to create first. It's always good to consult your financial plan, especially when things get dicey and emotional like they are in scary markets. Try to avoid making changes or taking actions based on things that are out of your control and emotions that come into play. Definitely check that out if you haven't listened to that as a precursor to this. Today, we're going to be digging in a little bit more into what those market downturns have looked like historically. I think this is part of the education component. Understanding what this looks like or what this has looked like in the past is really helpful. It has been for me. Of course, we can't predict the future, but we do know what history has looked like, so we'll talk about what that has looked like historically so that you can have a little bit more of that education and be better armed to navigate it as this type of thing happens again in the future. Okay, we're going to be referring to a few sources today to give you guys some hard data. I'll link...