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October 25, 2017

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Caring for a newborn and watching the market

Parents everywhere know the feeling.  The excitement at the hospital the moment your child is born and hanging out in the hospital room on cloud nine with the newest member of your family.  You have continuous interruptions and basically no sleep at the hospital but it’s ok because you still have the adrenaline going.  Once you take your bundle of joy home, the real fun starts.  My wife is a rock star when it comes to caring for our kids so other than changing a lot of diapers with our first daughter, my wife hauled the heavy load.  When baby girl number two came along, I had a better feel for caring for an infant.  The week she was born, I was able to spend some quality time with our new little lady when mom got some much needed rest during the day after being up all night.  Caring for a baby is nonstop.  You feel incredibly busy but if you look back, you don’t feel as if you accomplished anything.  It isn’t fair to think of productivity in the context of keeping a newborn safe as a parent, but it does require a flurry of activity including laundry, preparing bottles, washing bottles, changing diapers, changing outfits, baths, naps, and then the normal tasks of the household.  It’s like treading water.  A lot of movement to basically get nowhere, but it’s necessary to stay above water!  I think watching the market on a daily basis can provide the same feeling.  On any given day, the Dow can move hundreds of points in either direction and sometimes both in the same day.  The 24 hour news and business channels will have breaking stories multiple times a day and if you sit and watch them, you might get the feeling that you can’t look away or you’ll miss something.  In reality if you have your portfolio allocated and managed properly, any given day, week, or month in the market should not have a lasting impact on your financial well-being.  The financial news stations don’t want you to know that!  It is good to be informed, but obsession can be unhealthy.  If you have questions about your portfolio and what type of volatility it can handle, talk to a financial advisor you trust.  A good asset manager will be watching the markets and the holdings in your portfolio so you can do what you enjoy.  As my wife and I are getting ready to welcome baby number three later this year, I’m looking forward to even more quality time and the nonstop chaos that goes with it!

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