Not-So-Scary October

October is typically thought of as the scariest month of the year for a few reasons. For starters, we begin to feel the first chill in the air that tell us summer is over and that it’s time to brace ourselves for the winter weather. October is also when Halloween happens. Traditionally that means haunted houses and children as well as the young at heart dressing up as witches and warlocks, ghosts, and goblins, and more.

In the financial world, many people begin to tremble in October since it was October 1929 when the biggest stock market crash in history started. October 28 and 29th is when it began. Then, there was Black Monday on October 19, 1987. October stimulates recession fears in some people even though we have seen the market recover after every setback. While it took nearly 50 years for the market to recover after the ’29 crash, it didn’t take that long for the market to stabilize and start record-breaking growth after the ’87 crash.

The fact is that historically there are Bear and Bull Markets. The ups and the downs, they come and they go. Remember also that there have been other scary months outside of October.

the Dot COM crash did not happen in October, nor did the real-estate crash of 2008, nor did the recent COVID-19 pandemic that caused the market to falter.

As long as you have a reputable fiduciary financial advisor who has your back you will likely be able to weather the financial ups and downs the way you do all of life’s unknown and unexpected ups and downs. If you have little ones, let them have their fun and their little frights with Halloween in October. And teach them very early on the importance of early financial planning so that they will not have to be afraid of any month. If you’d like to discuss starting a financial plan for yourself or a family member, give us a call.

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