Just last week I was at Costco picking up a few things when I noticed a massive line up of cars coiled in several directions around the already packed parking lot. The line-up of cars waiting to fill up their gas tanks was huge. By huge I mean that I literally couldn’t move anywhere in this parking lot – I could immediately feel my stress levels rising.
If you’re a Costco member, you’re likely aware that their gas is a fantastic buy. It is routinely below the general market price of what other gas stations are priced at. On this particular day, Costco’s gas was below $1.00 a litre; which to my knowledge, no gas station in town has even come close to touching in recent weeks.
Buying things when they go on sale is usually a smart financial move. After all, why buy something at full price if you can buy it at a discount - right? Now that’s smart money.
What if I told you that your future was on sale – would you buy more of your future for less?
In October, financial markets experienced a bit of a setback. Many professionals have and will always postulate to the exact reasons of this happening. However, the simple explanation is that it is part of the investment process. The market gives and the market takes. Yet the winning formula is the ability to build a suitable portfolio – one that meets your financial objectives while also honoring your emotional tolerance to investment risk.
With a short term setback in the financial markets, investors have now been presented with a potential opportunity to buy more of their future while it’s currently “on sale”.
Do negative financial markets scare you? If so, you’re not alone. Many individuals lose sleep because they are worried about their money. But what if you were prepared for anything that the financial markets could throw at you? Now that is a pretty powerful idea.
So the question I’d ask you is, “Is your financial glass half full or half empty?” A good financial advisor will help you understand what is happening with financial markets and to see the positive aspects that negative market conditions present to you today.
Authored by Isaac Musial (Wealth Advisor) November 21, 2018
Isaac Musial is Partner & Wealth Advisor at Compass Wealth Partners, a Durham Region based financial services company located in Oshawa, ON. The foregoing is for general information purposes only and is the opinion of the writer. This information is not intended to provide specific personalized advice including without limitation, financial, legal, accounting or tax advice.