Practical Lessons for Your Financial Life (Collection)

Crises Give You an Opportunity to Enhance Communication with the Important Players

When you develop an investment strategy and you feel optimistic about its potential, it can be challenging to consider or discuss what can go wrong. People don’t like to talk about what could actually go wrong with an investment strategy and where that could leave them. However, this kind of analysis is critical to the process. By working through multiple “what if” scenarios, you can understand the potential financial impact of a crisis before it occurs.

The turmoil gives you an opportunity to communicate more thoroughly with people who may be in an appropriate position to help you, such as your financial advisor. This kind of collaborative dialogue may refine ...