Recovering from Covid-19 has been a journey of panic, patience, gratitude, and then more panic.
It was a turbulent time, to say the least, more for ourselves, We were worried about our family, loved ones, and close ones as we learned about case after case.
As I walked away from my 21-day quarantine, I was too lethargic to even stand and walk, my mind was exaggerated!
In the midst of all this, I can't help but draw parallels between my Covid journey and the world of investing. And I realized that these two couldn't be more alike! Let me show you how:
Lesson 1: Don't Panic
Just as COVID has invaded our lives in ways we've never seen before, the stock market has repeatedly surprised investors around the world.
The first reaction is always panic! When we got to Covid at home, we were everywhere: getting medications and injections, looking for hospital beds and oxygen cylinders, blood pressure through the roof!
Do we really need all of that? Mostly no. But it is in human nature to assume the worst.
Isn't that exactly how we act during a market crash? Unusual reaction to the Sell! to bear the worst?
Just as the fear of health depletion causes all kinds of reckless behavior, the fear of wealth depletion causes us to act in ways we are bound to regret.
Sure, the big Covid-19 market crash cut investor wealth in half, but the rally that followed took it to new heights! Market volatility is inevitable, especially in times of crisis.
The best way to overcome health and wealth problems is to stay calm and….
Lesson 2: Consult an Expert
In a state of deep confusion, multiple online treatments and countless WhatsApp forwards were mentioned; the only thing that came to our rescue was an expert.
The moment my close friend and doctor entered the scene, everything became much clearer and more organized.
Step-by-step process on how to get things done, repeat tests, constant monitoring, home diagnosis, and treatment - you'll be better in no time!
Your investment portfolio also needs a doctor. A capital markets expert, a financial advisor recommends mutual funds or stocks that can grow your wealth over time.
Consulting a financial advisor can really help clarify your financial plans. With tools like budget spreadsheets, financial goal calculators, and in-depth market research at your fingertips, your services can really make a difference for your money.
However, it is important to understand from the beginning that only an expert can give you recommendations to improve your health and wealth, but ...
Lesson 3: Discipline is a must
When I got better and the initial impact of the disease started to wear off, I relaxed a bit. The drugs began to have the desired effect and on the 10th day, I felt rejuvenated.
I'm starting to avoid gargling here and a vitamin tablet there. Until my mom had little lapses (God bless her). After a thorough case-taking session, I promised to continue treatment in the hospital until the doctor said otherwise.
I was back on my feet with little to no trace in no time.
I cannot begin to emphasize the importance of discipline during the course of this disease. No treatment is unimportant. All of them scientifically focus on specific symptoms that really aid in overall recovery.
Why then should you not maintain the same discipline in your investments? After all, the health of your wallet depends on it.
When your financial advisor gives you a plan, be sure to stick with it. If you plan to invest every month, do so without fail, regardless of recent market activity.
Don't try to time your market entry points, be it a Lambi race Ka Ghoda! Inject diversification into your portfolio to help you overcome all market conditions.
Create a balanced and healthy portfolio that recovers easily from short-term market shocks.
In the words of George W. Bush: "Stay on track."
Lesson 4: Review
The last day of quarantine was an emotional day. When the clock strikes 12, I wake up and tip-toed to the door to the room I've been locked in for 21 days, my heart pounding with excitement. The sense of freedom, hope, and gratitude that I felt was incomparable!
My doctor had given strict instructions on follow-up tests and recalibration of vitamin doses. I also prescribed a balanced diet and light exercise to restore my strength and immunity. I promised to speak to her every few months and then immediately inform her of any severe effects.
With the introduction of new vaccines on the market, awareness of them and changing WHO guidelines will help better combat this deadly virus.
Regular checks are also important for your business portfolio. While obsessing over it on a daily basis is unhealthy, leaving itrace completely alone and without reviews is much more dangerous.
The world is on the brink of massive change and our investment portfolios must remain adaptable. As innovation and technology change the way we live, our financial portfolios need to be updated to reflect these lifestyle changes.
Life is truly your best teacher. It's amazing how so many lessons can be gleaned from some of life's worst experiences.
If you are going through something bad, rest assured that you will come out wiser.
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