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There are some things in life you can’t predict, but you can try to plan for them. For example, when is the next market crash going to happen? We don’t know, but here’s how you can prepare for this and other things in your financial life.

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Show Notes

On today’s episode, we’re talking about planning for the financial issues you can’t predict.

When is the next market crash going to happen?

We have no idea when this will happen, but you don’t need to know to construct a financial plan. You need systems and processes in place that will allow you to have financial success.

It’s important to focus on what you can control and your psychological beliefs around the market. When the market goes down, tell yourself that this is normal and it will recover. Past performance is not indicative of future results, but history has shown over time that markets recover.

It’s important to take a long-term view and not focus on short-term dips. Make sure your portfolio is well balanced with some assets on the safer side and some assets on the growth side. You don’t want to be too conservative or too risky.

When market crashes come around, there are some opportunities for investors to rebalance your assets, sell high and buy low.

On today’s show, we’ll also share how to prepare for:

• Lifestyle expenses
• Health care
• Taxes

Listen to the full podcast or use the timestamps below to jump to a specific section.

Listen to the full podcast or use the timestamps below to jump to a specific section. 

[1:15] – Inflation articles

[5:58] – Market crash

[11:02] – Lifestyle

[17:04] – Health care

[23:56] – Taxes

[28:46] – Life expectancy

[31:34] – Mailbag: Too much money in bank?

Thanks for checking out this episode. We’ll talk to you again soon.

“We don’t want to worry, so we need to focus on what we can control.”

-Scott Sierens