Tip for Investors: Controlling What You Can When Things Feel Out of Control

If you have young children or grandchildren, there is a good chance that you have seen the movie Frozen 2 at least once, if not several hundred times (thanks quarantine). I think 2020 could be summed up perfectly by a quote from Olaf (the snowman). “We’re calling this, controlling what you can when things feel out of control.”

There is no question that 2020 felt out of control in many ways. It was marked by a global pandemic, economic crisis, protests, quarantine and even the appropriate way to interact with each other. But 2020 also produced some positive things like technological advances, creativity and more meals at the table as a family.

The past year has reminded me of two simple truths: First, some things are completely out of my control and secondly, there are things that I can control. So, what are some things that we can be doing that are within our control?

• If you don’t have an emergency fund (typically 3-6 months in expenses), then start one
• Update and review your financial plan
• Make sure your estate documents are up to date
• Review your mortgage rate, and if appropriate, consider refinancing

You should not assume that any information provided serves as the receipt of, or as a substitute for, personalized investment advice from Waverly Advisors. This information should be used as a reference only. Talk to your Waverly Advisors, or a professional advisor of your choosing, for guidance specific to your situation.