Groundhog Day - Making the Most of "Life Resets"



As we tire of winter, pine for warmer days and look to Pennsylvania for hope, I wanted to revisit the enduring theme from Bill Murray’s 1993 classic. To quickly recap for the 5% of society that hasn’t see Groundhog Day, Mr. Murray plays Phil Conners a misanthropic weatherman who loathes the monotony of the Groundhog Day remembrance but is forced to cover it for his local station. Through freak circumstance he finds himself stuck repeating, repeating the day and its events. Phil isn’t released from exile until he confronts and corrects his moral defects. As he triumphantly reinvents the worst day of his life into his best, he finds freedom and happiness.

Like Phil, we inevitably face moments where we have to it the reset button. In 2016 you may encounter something on your personal or professional life that requires a fresh perspective. It could be a financial or health issue that forces you to change courses. Each of these scenarios will require a different response to find a workable solution.

After a 5% loss on the S&P and a 7.8% loss on the NASDAQ, investors are looking at the worst January in memory. They need to discern if this is the start of really bad times or time to buy more. Here’s my decision tree for investment uncertainty:

  1. Understand where you are.
    1. How old are you?
    2. How much time do you have to invest before needing your funds?
    3. What caused the declines in your portfolio?
  2. What is the worst case scenario?
  3. Is there an opportunity for improvement in this?
  4. Who can help me get through this?

This list is helpful beyond investment problems and number 4 is the most critical advice to follow. Don’t go through it alone. You have people around you that can offer help and encouragement. A little hint, they are usually the folks who have already hit the “life reset” button a few times themselves.

Phil Conners learned that we are only destined to repeat mistakes if we fail to recognize that a change needs to happen. Use Life Resets as an opportunity for growth and stronger relationships.

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