Market Mayhem? Focus on What You Can Control
It’s no secret—these days, checking your 401(k) or investment portfolio can feel a bit like bracing for a horror movie jump scare. With the recent $6.6 trillion stock-market wipeout making headlines, it’s tempting to keep refreshing your balances. But as I shared with MarketWatch, that’s usually an emotional rollercoaster best avoided. Instead, focus on “meaningful, grounded” financial planning steps you can actually control—and give yourself a break from the blinking red numbers.
So, what are some smart money moves you can make right now? First, look beyond your retirement account and check in with your overall financial situation. Review your budget for signs of “lifestyle creep”—that tendency to let expenses inch up with higher prices and more subscriptions than you remember. As a financial advisor, I also recommend reviewing your credit score and managing any high-interest debt (credit cards sitting above 22% APR can really drag down your wealth-building). Shopping around for better rates on things like car insurance or even your mobile plan can free up cash and improve your cash flow—a key part of any wealth management strategy.
Don’t forget the basics: bolster your emergency fund in a high-yield savings or money market account, and resist the temptation to panic-sell in your retirement portfolio. Remember, investing is a long game. The market may be down today, but as history (and countless investment advisors) will tell you, consistent, disciplined investing is what drives real growth over time. If all this feels overwhelming, you’re not alone—and this is exactly where a fiduciary, fee-only financial advisor can help you cut through the noise, create a custom strategy, and give you peace of mind.
If you’re looking for certified financial planning, independent advice, or just someone to talk through your retirement goals and 401(k) strategy, I’m here to help. Sometimes the best money move is simply to stop doom-scrolling and start planning—your future self will thank you.