Retirement Resources President, Dave Boike, Encourages Investors To Have Patience Long-Term Investme
Retirement Resources President and Investment Advisor, Dave Boike writes about the wisdom of staying poised and patient as world events seem to rock investments and retirement accounts.
Auburn Hills, MI — March 30, 2022— Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy, published a new article on the company website entitled, “Short-Term Events VS. Long-Term Investments,” in which Mr. Boike encourages non-reaction.
Boike points out that, “During the early hours of Russia’s invasion of Ukraine, stocks plummeted, and investors saw their savings in 401(k) plans disappearing.” He goes on to add, “Many people were afraid there would be more losses to come. However, let me remind you that just hours later, they regained all their losses for the day and then some, as the market made a sharp reversal.” He emphasizes, “This is called market volatility.”
“I invite my clients and all those with retirement investments to keep their eyes on the long-term objective of their investments,” Boike writes. He continues adding, “Retirement is a long-term goal. I remind my clients time-and-time again that with a long-term goal one cannot place emphasis on short-term events.”
According to Boike, “Getting caught up in dramatic events as they unfold rarely leads to wise decisions.” He adds, “This applies to life in general as well as to financial decisions. Life’s dramas are going to unfold whether we allow ourselves to get caught up in them or not. You can probably look back on your own life and test the validity of this idea.” Boike states, “We’ve all had dramatic events in our lives and we’re still here, moving along despite whatever we’ve been through.”
Boike asks his readers to, “Please keep in mind that sudden downturns in the stock market are “unrealized losses” for patient investors. But the moment you act and sell off investments, they become “realized losses.” Impulsive actions in the stock market almost always end up in disappointment.”
Read the entire article at LINK HERE
About Dave Boike
Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth. For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College.
For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.
Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning. He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals. As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s and is teaching a class at Oakland Community College.
Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges. He teaches you in this easy-to-read book how to take the steps necessary to achieve your successful retirement.
Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.
Retirement Resources has been rated A+ Excellent by the Better Business Bureau for many years.