Dire economic news is part of everyday reporting. Getting a true picture of the economic news and what to do about it is.
I spoke with financial advisor Karl Johnson on how to handle bad economic news and here's what he told me:
#1 Think long term
#2 Be an independent thinker
#3 Get input from the right experts
"For example, you hear home sales are falling and mortgages are goin
g bad with high numbers of foreclosures. This can also present an opportunity to invest in real estate. If the market dips, it's going to come back up.
"Have a big picture. Don't worry about the short-term.
"Investing and keeping a good financial strategy in play isn't about reacting to what happens. Instead, it's about following through with a solid plan and having facts at your disposal to understand.
"Let's say it's raining outside. I could complain and get wet or I could get an umbrella to hold over my head.
"My advice is don't pay too much attention to the news. Focus on what you're trying to accomplish and the steps needed to get you there. Seek out the right information to help you meet your financial goals."
#1 Think long term
#2 Be an independent thinker
#3 Get input from the right experts
"For example, you hear home sales are falling and mortgages are goin
g bad with high numbers of foreclosures. This can also present an opportunity to invest in real estate. If the market dips, it's going to come back up."Have a big picture. Don't worry about the short-term.
"Investing and keeping a good financial strategy in play isn't about reacting to what happens. Instead, it's about following through with a solid plan and having facts at your disposal to understand.
"Let's say it's raining outside. I could complain and get wet or I could get an umbrella to hold over my head.
"My advice is don't pay too much attention to the news. Focus on what you're trying to accomplish and the steps needed to get you there. Seek out the right information to help you meet your financial goals."
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