Refined Wealth Newsletter by Joe Ward

Read Time: 3 Minutes

The Price of Admission

Hello Friends! Last weekend I volunteered at the Houston Open. Inevitably a couple of people asked me what I do, and after my response most said:

Nope.

You all know volatility is the price of admission for long-term returns. It's a core tenet given the way we invest, and something I dive deeper into during onboarding, because you cannot start doing lifeboat drills after the Titanic hits the iceberg.
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Of course you can and should call me at any time, for any reason, without hesitation. I always want to be the first call when something is going on in your financial life. You're doing me a favor by calling; it's how I learn about the things that really concern you.
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I will only call you if something specific comes up that requires a decision on your end. That doesn't happen often, because the approach is designed around staying steady rather than reacting to daily headlines.

If the market enters correction territory, roughly a 10% decline, that will likely be the topic of my next newsletter. I say "likely" because markets often recover so quickly that the note would be outdated by the time you read it.

Below are two "lifeboat drill" charts while the waters are merely choppy.

If you think someone could benefit from this viewpoint, please consider sharing.
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Next week's memo should be a good one. Here's what to expect:
- Q1 Review
- A Few Helpful Charts
- What I’ve Been Reading

As always, stay the course.

Joe Ward, CFP®, RICP®, TPCP®

We're always here to listen and offer guidance when needed. If you'd like, feel free to book a quick call today.

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