Mental Tips for Surviving the COVID-19 Sell-Off
This is the worst part. It’s the part that no one talks about. Most suffer in silence.
But I’m going to break the silence.
Everyone knows markets are moving lower.
Stocks are down. Oil is crashing. And bonds are just about worthless.
I don’t need to rattle off numbers — they change by the minute.
That said, your brokerage account is likely down. And you’re feeling it.
But you’re in great hands. Our team of experts at Banyan Hill have weathered market corrections, pullbacks and recessions.
You can count on them to guide you through this one.
Still, I want to take a minute and make sure that more than your portfolio makes it through. So, let’s talk about your mental space.
Falling markets weigh heavily on the mind. Red is splashed across screens. It can feel like the markets, and your account, are bleeding out.
We need to take a step back in times like these.
Luckily for me — and us — my partner is a therapist. So, I asked her to offer some off-the-record advice for readers who are feeling beaten and bruised lately.
3 Points to Remember
Here are three points to keep in mind when markets have you feeling down:
- Turn off the computer and go for a walk. It’s important to remember that the world is bigger than your portfolio. Taking a walk through nature can recharge you — and remind you that no matter how scary the headlines are, the sky isn’t falling. Life will get back to normal. For extra strength, take some time to enjoy a favorite hobby, such as fishing or golfing!
- Make time for friends and family. It’s easy to feel like you’re alone at a time like this. It is a great idea to make time for coffee or even a phone call to a friend. They may be going through the same thing, and getting together can lift both of your spirits.
- Review your emergency plans. It’s always good to remember why you invest. And when you set out on your investing journey, you likely made a plan for a rainy day.
Now’s the time to go back and review that plan. That could mean meeting with your financial adviser. I know that every one of our experts laid out their plans in their services’ trading manuals. Now is a great time to go back and read through them again.
Finally, don’t be afraid to seek help. That could be in the form of a therapist or other mental health professional.
These are tough times. It’s normal to feel down — but we’ll get through it together. And there are huge opportunities to look forward to after.
You can always reach out to us at firstname.lastname@example.org. Our team is standing by to help you weather this storm.
Managing Editorial Analyst, Banyan Hill Publishing
P.S. Don’t miss out on my latest Marijuana Market Update. I cover the latest industry news around Canopy Growth Corp. Tilray and others. Check it out here and don’t forget to like and subscribe!