Jenifer Madson

You probably thought I was talking about what kind of market we're in, didn't you! Actually, I was referring to our attitudes about the state of the economy.

People have commented recently on how nice it would be to get positive returns on their investments, once the market was back up. There were "no returns to be had," they said, "because the economy is still bad." The only evidence they had to support those statements was their own investments; they hadn't checked to see if that was globally true.

It made me think about the ripple effect of our opinions, and our responsibility in choosing an economic stance based on whole knowledge.

Our attitude about the market drives the market. If we keep saying the economy is bad, then we will act accordingly, in our work and our spending. Going to the extreme to support the economy will work against us too. We need to choose a happy medium, based on the facts.

Take A Minute:
Think about what's driving your attitude about the economy, and whether you've got all the facts.

Make A Minute:
Go to www.morningstar.com and research the stock, bond and mutual fund markets. Then see your investment professional about diversifying your portfolio for better returns.

So, let's not be bears and hibernate until the market corrects itself. Nor should we be bull-headedly optimistic, and fake it till we make it. Let's definitely not be sheep and just follow the herd's position on things. We'll be wise owls, perhaps, and first do our homework on how the market is actually doing, and then form an opinion.

Website: A Financial Minute

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