Despite the tragedies of September 11th and the current anthrax scare, America will persevere. Our "unbeatable determination" will bring more achievements and prosperity in the future, just as they have done in the past. America has a dream and a vision. The freedom our country offers brings out the best in people, and cultivates and nurtures the creative human spirit. We have weathered previous adversity and emerged stronger from it, and this time will be no different.
Short-term anything can happen, and it is important not to let emotions lead you into taking any actions that would be contrary to long-term strategies you already have in place.Your success as an investor requires you to maintain perspective in times of crisis and uncertainty. It is easy to be optimistic when everything is going great, but discipline is required when things get tough. Stay focused on your long-term goals and dreams, while working on factors that you can control, such as continuing to save and invest, and making sure your investments are adequately diversified. Many have drawn parallels between our current crisis and Pearl Harbor. If you had invested in large company blue chip stocks right after the attack on Pearl Harbor, and not sold under the end of 1945, you would have earned an average annual return in excess of 25%. If you had invested in small company stocks, your average annual return would have been in excess of 60%!
Remember that the whole idea behind financial planning is to use money as a tool to help you live a full and meaningful life. This includes more than just taking care of insurance needs and managing your investments. Take time to think about your dreams and goals. Strive to do work that you love. Spend time with people who are important to you. These were all important prior to September 11th, and that has not changed.
"America was not built on fear. America was built on courage, on imagination and an unbeatable determination to do the job at hand." Harry S. Truman