Hysteria is right at your fingertips. All it takes is a couple pushes and flicks and you can immerse yourself in a world of fear. It’s so tempting isn’t it. Never before have we had the ability to stir up panic in ourselves with such incredible efficiency.

You essentially have two options when things are going awry. You can allow fear to grip you and immobilize you, or you can find a way to overcome it. What’s the best way to overcome? Start by taking a breath, and then making a plan.

I’m writing this post not to make light of what’s going on in the world currently, but rather to highlight the possible reactions we can all have as human beings. These varying types of reactions can have compounding effects, whether it be from an investment planning perspective or in your day to day life. Spontaneous and irrational decisions can cause people to lose everything they’ve worked for.

When market pullbacks and unexpected events such as the current COVID-19 epidemic come about, it’s an important practice to take account of your emotions. What do you find yourself thinking about constantly? Is your mood greatly altered by external events you don’t have control over? Maintain a heightened level of self-awareness during times like these, so when formulating plans for the future you can do it with deliberate intent.

I’ll never forget a metaphor an early mentor of mine used when I worked within a retail setting. I had recently become responsible for other employees as a leader and they would always tell me to “be the warm fuzzy blanket”. When chaos is erupting and emotions are high, be the individual that brings calm to a room. Be thoughtful and understanding of the situation you find yourself in, but never lose your cool. When you find panic setting in and uncertainty abounds, try to remember…

Take a breath…and make a plan.