Two Words What If
Two Words What If
Dennis Friedman | April 13, 2021
I’VE LATELY BEEN having a hard time sleeping—and I have a pretty good idea why. It has to do with two words that keep bouncing around inside my head. If you let them, those two words will also keep you up at night. They’re powerful because there’s no end to them. You ask, “What are the two terrible words?” The answer: what if.
What ifs are about what could happen in the future and, if you let your imagination run wild, it’s usually something bad. I’ve been thinking a lot about my future. I don’t know if it has to do with turning age 70. I don’t think so. I actually feel pretty optimistic about the next decade. I’m looking forward to spending some quality time with my wife once this pandemic is under control.
Still, I’ve been thinking a lot about my wife’s future, too. What happens to her if I’m no longer around? Will she have trouble supporting herself financially? Questions like these keep popping up in my head. They shouldn’t, because I believe we have these kinds of things under control.
The trust we set up and our well-funded investment portfolio should help her weather any unforeseen financial challenges that come her way. Also, all our important documents and contacts are stored in a centralized location, so they’re easily accessible. If she needs professional advice, we have a relationship with a low-cost financial advisor, tax accountant, attorney and insurance agent.
When pondering what ifs, there always seems to be another one. The other day, I started thinking about household emergencies. What if the hot water tank leaks? What if the electric garage door won’t close? How do I prepare my wife for those kinds of hassles?
I realize the real problem resides with me. My wife is a fiercely independent and intelligent woman. She can handle these types of everyday headaches herself. She doesn’t need me to try to prepare for every problem that might occur in her life.
Trouble is, I want certainty, but life doesn’t offer much. If you’re like me, and sometimes you’re unsure and hesitant, especially when it comes to managing your portfolio, here are nine money tips:
1. What if international stocks outperform U.S. stocks? What if small-caps outperform large-caps? What if interest rates go up? This sort of endless uncertainty can paralyze investors.
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