George Flynn of Garrison Financial Planning shares insights on navigating market volatility and developing a sound investment strategy that withstands economic uncertainty. His approach emphasizes data-driven decision making and understanding the psychology behind successful long-term investing.
• The best time to start investing is always "yesterday" – time in the market beats timing the market
• Market data shows impressive odds of success: 70% chance of positive returns after 6 months, 83% after 5 years, 93% after 10 years, and 100% after 20 years
• Understanding the difference between trading (speculation) and investing (long-term wealth building)
• Investment vehicles explained: stocks (concentrated), ETFs (more diversified), index funds (highly diversified), and bonds (stable income)
• Media sensationalism can trigger emotional decisions – "The Weather Channel loves a hurricane"
• Investment is like a bar of soap – the more you touch it, the smaller it gets
• The average investor significantly underperforms market averages due to behavioral mistakes
• For business owners: focus on protecting capital from inflation and efficient wealth transfer
• George's practice focuses on providing clarity and structure for business owners and their families
Turn off the financial news, stick to your long-term plan, and if you're not working with a financial advisor, consider finding one who can help structure your investments appropriately for your goals.