Your Guide:
Have you ever wondered why you handle money the way you do? It turns out your financial behaviors can be traced back to your formative memories. In this episode, we explore how historic market crashes have left a lasting impact on our relationship with money. We’ll also contrast them with the way more recent crises have shaped our financial views and decisions in the short term.
Consider the trauma experienced by those who lived through the Great Depression, spanning from 1929 to 1939. During this period, stocks plummeted by a staggering 90%. If that catastrophic market crash was your initial encounter with the stock market, it’s no wonder that trusting it as a viable investment option would be challenging. As we explore this historical event, we’ll juxtapose it with the Covid-19 market crash of 2020 and other significant crises.
As always, if you have any questions regarding retirement or investing, don’t hesitate to reach out to us for assistance!
Here’s some of what we discuss in this episode:
- Remembering soaring interest rates in the late 70s, early 80s, and right now. [6:55]
- Remembering Black Monday in 1987. [9:20]
- Remembering the Great Recession of 2008. [13:23]
Listen to more of our conversation in the podcast or reach out to us to talk about your financial situation and goals.
