The following is a guest post from the blogger My Sons Father, who is on a journey to preserve his life experience for his children and reach Financial Independence. April is Financial Literacy Month, and My Sons Father is launching Bear Week. Many bloggers began writing their blogs after March of 2009, and may not have experienced previous bear markets and corrections personally. My Sons Father hopes to share his experience with previous bear encounters.
Your Guide To Surviving The Next Bear Market Or Stock Market Correction
For the past 9 years the markets have made everyone look good, economists, money personalities on TV, politicians, and even us lowly personal finance bloggers.
We’ve all felt pretty good about ourselves as each month we reached new highs on our net worth updates. We congratulate each other on our winning strategies. With each uptick in the market, we inched closer to achieving our blogs mission, and finally writing that post declaring our Financial Independence.
Well, like all good parties, this one is going to end. What goes up must come down and this bull market we’ve been riding for the past 9 years is going to turn bearish.
Maybe it already has or maybe it won’t for another 9 years. I don’t know when, I just know it will. And when it does, there are a few certainties:
- Talking heads on TV will work themselves into a lather and tell us that the sky is falling.
- A certain segment of the population will react to this fear mongering and take money out of the market.
- Those individuals will lose money.
Something must be done. And for the first time, I have a platform (albeit a very small platform) to do something about it. And do something I will.
I am calling that something Bear Week.
The mission for Bear Week is simple, create entertaining and informative content with the sole purpose of helping people make wise decisions when we do inevitably encounter a bear market.
I will consider bear week a massive success if just one panicked investor turns to the all-powerful Google for help when the sky is falling. And that one investor stumbles upon a post written during bear week. If that post helps calm his nerves and weather the market storm, than bear week was a success.
What to Expect
To be honest, I have no idea what to expect. I’ll get to the Bear Week schedule on my site in a minute, but as far as the rest of the blogosphere is concerned, I have no clue. A few weeks ago, I put out the bear signal (think bat signal, but with a bear) to the financial blogging community and received a few tentative commitments.
But I know how blogging can be; an idea three weeks ago can easily be lost in an avalanche of ideas from just today. So Michael Dinich and I could be the lone flag bearers (see what I did there) for this cause.
I hope at least a few bloggers take up the mantle and write some interesting Bear Week content. If not, my end of week round-up post could be a little bare (sorry, last one I promise).
What I do know, is what you can expect from my site. I’ll do a brief introductory post on Sunday and then post new content Monday – Friday. Here’s a list of posts you can expect this week:
- Monday, April 9 – Bears Happen – Why I Don’t Calculate My FI Date – In this post, I come face to face with a real bear and it changes how I look at Financial Independence.
- Tuesday, April 10 – Good (Financial) Advice is Hard to Follow – My wife gets some good advice but doesn’t follow it. Spoiler Alert…BEAR!
- Wednesday, April 11 –Bear Markets Aren’t Dangerous…You Are – Stop me if you’ve heard this one before? A blind man takes his daughter for a hike in the woods…
- Thursday, April 12 – Is a Bear Market the Best Time to Teach Kids About Investing? – Why I’m hoping for a bear market to teach my kids about investing.
- Friday, April 13 – Bear Week Round-Up – Links to all the other Bear Week posts from around the blogosphere.
I want to take a moment to thank Michael for supporting Bear Week. It was a thrill when he agreed to take part in Bear Week and a true honor that he was willing to give me this platform to announce Bear Week to his audience.
I hope that you, his loyal readers, enjoy Bear Week as much as I’ve enjoyed putting it together.
I would like thank My Sons Father for his guest post and creating Bear Week. I am excited to help share Bear Week and read his posts in the upcoming week. Remember, that as you read different peoples personal financial experience, the best plans are the ones that work for you.