For many people, this has been one of the most difficult times of their lives. Both in the U.S. and abroad, people are living under a cloud of uncertainty about their future financial position. I know this because I have been inundated with e-mail from people asking for help.
People are hurting.
Two recent e-mails read in part:
“My sister suggested I contact you. My investment account has lost an incredible amount of money and my ‘advisor’ is clueless what to do. I am down $385k from over $600k. Please contact me so that I can provide you with the information so you can review.”
“My husband and I are currently living in Eastern Europe. I am not a U.S. citizen, but he is. He had significant investments and savings in the U.S., but they have lost a lot of value recently. We need the help of a financial advisor/planner to make sure we do not lose our savings for our kids, retirement, etc.”
These are not the exception, by any means. In fact, for the past year, my team and I have been working to change the mindset of investors who have been indoctrinated into the buy-and-hold club. You know, the one that tries to prove that all other investment strategies are worthless and are likely to lose massive amounts of money.