Good morning, good afternoon, good evening. Depending on the part of the world you’re in. This is Jonathan Satovsky of Satovsky Asset Management—Ferris wheel-style—of “Seeking Wisdom, Wealth, and Wellness.” And what I want to talk about today is freedom from mental slavery.
If I told you that in the next year or two, there would be a guaranteed recession, what would you do differently? Well, if you’re worried about the short term, maybe you’d bunker up and wait for terrible things to happen so that you can insulate yourself. But, if you’re thinking about a lifespan—and the longevity of life expectancy expanding over the next decades ahead at an accelerated pace—there’s a 50/50 chance that you’re going to live past your 100th birthday. Maybe to 100, to 110, to 120? And in that case, it’s just a blip in the road.
So how do you insulate yourselves from the “every 3.7 years, 20+ percent decline” in the financial markets and yet still have the resilience to grip tight, hold on, own strong businesses, and own markets for the next decade? 2, 3, 4, 5 (decades)? So that you can give yourself a chance of compounding your money and doubling it every seven to ten years at a clip. So that you can cover yourself net of taxes and inflation, and protect yourself from longevity risk. And yet, whether it’s a Ferris wheel or a roller coaster, not falling off.
So whatever the short-term forecast, whatever the short-term outlook is, prepare for the worst and the upside will take care of itself. Consider that on your path to Wisdom, Wealth, and Wellness.
Have a great day.