Mainebiz

V O L . X X V I N O. I X W E A LT H M A N A G M E N T / R E T I R E M E N T F O C U S 18 ADAPT & OVERCOME Since 1972 Jewett Construction has been providing unparalleled construction services throughout the Northeast and as we manage this new reality, Jewett Construction will remain open for business. All of our project teams have acted quickly to implement our COVID-19 policies and procedures to ensure that everyone on site is safe and healthy. Our mobile handwashing stations and sanitation stations were built by our own team and are deployed on every single one of our job sites. These adjustments are critical as we move forward. We're ready to work with you digitally to get your construction project shovel ready, call Jon Sirois to learn more (207) 265 - 6828. We feel great amounts of gratitude for those healthcare workers, first responders, educators, scientists, truckers, grocery store workers, and our construction team members who are essential to our communities and are working hard to keep us safe. We see you and we appreciate you. We want to shake you're hand... but we'll wait. » C O N T I N U E D F RO M P R E V I O U S PA G E Take the emotion out of it "Don't succumb to emotional decision making," says Alexander. "Don't fall prey to the human tendency to project recent past experience into the future." He adds, "It's probably a wise idea to moderate the amount of time listening to the news." Andreoli agrees. "Take the emotion out of invest- ing," she says. "A lack of discipline can lead people to sell into volatility which ultimately can impact returns negatively over the long run." ompson says following emotions is part of human nature. "Human nature is your enemy," he says. "Human nature cannot distinguish between temporary declines." Stick to a plan "Successful investors act on their plan, while failed investors react to the market," says ompson. "And in the wrong way." Reinfried agrees. "In a lot of cases, the best advice is to simply stay invested." Clients who understand what they own and why aren't as affected by the big swings the news focuses on, she adds. "You need to make two right decisions," she says. "You need to know when to get out, but you also need to know when to get back in." e first deci- sion is a lot easier than the second — once people get back in, it's often later than they should have. Understanding, and having faith in, a plan can help investors "avoid a lot of heartache." In five years, Reinfried says, the market will be better than it is today. "You really don't need to worry about the next 12 months" if the plan makes sense. It's the advisor's job to understand the portfolio and how each one is specific to an individual client's needs, Reinfried says. Investors should be practical about that and not worry about the ups and downs. Andreoli, too, says that clients should count on their advisors when making sure their plan is solid. "Have a conversation with your financial advisor and make sure that your assets are allocated appro- priately among stocks, bonds and cash, based on your individual situation," she says. "Our team has consistently advised clients to invest for the long term and maintain liquidity for cash needs they have over the next one to two years," she says. "I remind clients that this is why we've done all of our investment consulting and advanced planning work and now is the time to stick to the plan." ompson says his firm is reminding clients, "e only way to capture the equity premium over the long term is to live through the temporary declines and stay in the market. "We are ensuring clients are invested in actively managed funds, which takes advantage of the equi- ties when there's growth, and plays defense in a market decline," he says. Alexander says it comes down to: "Although emotionally challenging, in some cases, the best thing to do is nothing."

• Cover