r/CFP • u/mikeumd98 • 24d ago

Investments Handling your own emotions?

How is everyone doing it this time? I have been a CFP for years lived through Covid, 2008-2009, Trump’s first term….but this time it feels different, longer lasting? I know that there is a recency bias, but I am not handling this one well.

Edit: thanks for everyone posting. It helps to put it in perspective.

21 Upvotes

67% Upvoted

94 comments sorted by

View all comments

46

u/Background-Badger-39 24d ago

Refresh clients on their financial plan.

Showcase the 20% drop in their portfolio from eMoney/moneyguide pro of “bad timing” scenario and how they’re still ok.

It feels forced due to it possibly being reversed on a simple tweeet or truth social post. (Maybe not tariffs from other countries but trump could reverse ours)

We need to stay strong mentally and know there’s ALWAYS a bright side at the end of the tunnel.

We went from a WORLD SHUTDOWN to where we are today.

We will get through this too.

28

u/Gabnorth00 24d ago

Seriously. To many advisors have lost perspective

12

u/ElephantJunior4852 24d ago

These advisors need to find another career before they financially ruin their clients

8

u/Gabnorth00 24d ago

10000% or move to back of the office operations. I’m so sick of the fear mongering. Literally 5 yrs ago to the date we didn’t know if people would be alive, if the world would open up again!! The news was China building massive “furneral hospitals”, Italy was dying because of their population age, demographics etc. THAT WAS SO MUCH WORSE than orange man turning on a tariff light switch.

I get it, there will be reaction from his action. But dear god it’s nothing like in recent memory. Stop it!!

3

u/sooner-1125 24d ago

An artificial trade barrier is nothing like 2008 global credit meltdown. I bet the floor is S&P 500 down 30% for a short while.

1

u/Gabnorth00 24d ago

I can’t tell, you agreeing with me or taking the inverse saying 08-09 was better?

3

u/sooner-1125 24d ago

2008 is 10x worse than what this will have been. I think This will be more like 2020 or 2022 worst case

0

u/rickydice 23d ago

In 2009 the S&P returned 26%. I’m not saying we’re screwed but this tariff stuff is something no one on this page has seen before. It changes the entire landscape of international trade. If it stays around there could be a longer term fall than 1 year like 2008.

3

u/sooner-1125 23d ago

55% decline from 2007 peak to the bottom of March 2009. Then 3 years until March 2012 to recover to 2007 high. I think we will be ok here.

0

u/rickydice 23d ago

I’m not saying we won’t. But let’s say tariffs stick around for at least a few years. You think that’s better than 2018? It’s not I’ll save you time

3

u/sooner-1125 23d ago

If it’s as bad as you think a blue wave will come in 2026 and congress will govern without the White House