If you're an outdoor enthusiast, at some point or another you've probably contemplated what you might do should you encounter a bear or other wild animal. Wildlife experts typically recommend these tips: Stay calm and don't run. Investors might also do well to heed that advice when traversing the stock market.
Oaktree Financial Advisors Blog
As you are no doubt aware, stocks have experienced much volatility over the last few years. This is a good time to remember that the market doesn't deliver returns in a straight line. Market ups and downs are normal, and it takes a lot of them to balance out to the average.
Investing based on facts, not emotions
Emotions–including our own–should not have a role in making decisions about your investments. That is why we do not act on stock tips, guess where the market will be in six months or try to predict the direction of interest rates. We have always said that we will not play guessing games with our client's life savings.
We are planners, not prognosticators. We help people with long-term financial planning, not short-term speculating. It's evident that no matter how much time and energy we or anyone else put into studying the market and economy, no one knows what it's going to do in the short run, but we do know what it's done in the long run.
64% of Americans have no financial strategy at all. That's right – no plan whatsoever to build wealth or keep it. That finding comes from the 2009 National Consumer Survey on Personal Finance conducted by the Certified Financial Planner Board of Standards, Inc. (The survey collected data from 1,700+ U.S. residents.)1
Only 17% of us have a written financial plan that is updated regularly. So congratulate yourself if you are in that group. The CFP Board found that just 17% of the 36% polled who did have a written financial plan had reviewed it in light of changing times. Notably, 48% said they had benefited from having a written plan.1,2
Just 38% of the 36% having written financial plans retain a financial advisor. The really troubling part: 37% of those with written plans are doing their financial planning on their own. Another 12% of respondents with written plans have consulted a friend or family member who isn't a financial services professional for advice.1
*Oaktree Financial Advisors is neither endorsed by nor affiliated with Eli Lilly
Effective 2012, Lilly will discontinue the practice of matching your 401(k) contributions with contributions to the Lilly stock account. Lilly's match will be allocated based on the same percentage investment selections you have made for your own contributions to the plan.