Accepting the Uncertainty in Our Financial Life

A study by Michel J. Dugas, Patrick Gosselin, and Robert Ladouceur observers about uncertainty and worry: “Considering that daily life is fraught with uncertain situations, individuals who are intolerant of uncertainty may perceive several ‘unacceptable and disturbing’ events in the course of a single day.” If you’re watching CNBC or Fox Business, you will hear all the news about the market downturn. That fear can induces investors to make hasty decisions based on the feeling of uncertainty even though it’s a bad idea. To accept the uncertainty in our our financial life, Carl Richards on The New York Times says: “We can build a portfolio that matches our goals. We can own lots of different kinds of investments, with the knowledge that most of the time, they won’t all fall sharply at once. We can keep the costs of those investments down. But after we’ve nailed down all those things, there’s still going to be uncertainty in the air. The sooner we can accept that the better. That’s life. That’s reality.” (nytimes.com)