Fear. That is a complex word. Fear is a word that I talk about almost everyday. Fear is a concept that rivels only “greed” as one of the most misunderstood concepts when thinking about personal finance. Fear of losing money. Fear of not understanding complex planning topics. Fear of not having enough. Fear of paying too much. Fear of making the wrong decision. All of which can be consolidated into one large fear: Fear of the Unknown. And it is my job to help people push past the fear and embrace the positivity that lives on the other side of fear. How do I do this? Through confidence and education.
In my almost three decades as a stockbroker, I have worked with hundreds if not a thousand people emotionally navigate the stock market. AKA: the playground of fear. Where taking chances is the only path forward and nothing is ever guaranteed. Some people are natural risk takers, and the stock market is their happy place. Some people are naturally more conservative, and the potential for loss overshadows any potential for gain. To members of this community, I offer the concept of education and confidence being the tools to help push past the fear.
Basic human psychology tells that fear is often overcome by confidence. Confidence in your own decision making is key. Generally, confidence can found through personal experience, in a “I’ve seen this before so I know what to expect” kind of mindset. But when personal experience is lacking, or past experience has been negative, confidence can be hard to find. Education about a situation is really just internalizing someone else’s experience. Their knowledge is now your knowledge which leads to their confidence becoming your confidence. Fear could be holding you back…..or maybe fear is what you needed to blaze your path forward? Harness it, use it, and push past it as you move into your future with grace and power. Fear is not a bad word, just a complex word. Use it.
Kimberly Enders CFP® CWS® CERTIFIED FINANCIAL PLANNER™
Enders Wealth Management
37800 Van Dyke Ave, Suite 125
Sterling Heights MI 48312
Securities and advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker-dealer and a Registered Investment Adviser. Cetera is under separate ownership from any other named entity. All investing involves risk, involving the possible loss of principal. There is no assurance that any investment strategy will be successful.
Certified Financial Planner Board of Standards, Inc. (CFP Board) owns the CFP® certification mark, the CERTIFIED FINANCIAL PLANNER™ certification mark, and the CFP® certification mark (with plaque design) logo in the United States, which it authorizes use of by individuals who successfully complete CFP Board’s initial and ongoing certification requirements.