Retirement savings, Wealth management, Tax intelligent investing The Importance of the Plan | Northern Arizona Financial Services Co.
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The Importance of the Plan

February 02, 2024

2022 and 2023 were tough years on the market. During 2023, you may have heard of the Magnificent 7 which was a group of 7 stocks that generally drove the performance of the market. Meanwhile a lot of the market was generally down so while you may have seen the market going up your statements may have been showing you that your portfolio was actually going down or staying level.

As we reached the end of 2023, the market began to turn to the upside, and it had a huge run up in the last quarter of 2023. This rally was not driven entirely by the Magnificent 7, and for most people their portfolio saw the benefits of the huge run

What does all of this mean for the individual investor? If anything it shows the need to invest with a plan and stay with that plan. Emotions are something we all live with everyday, but the more we take emotion out of investing the more successful our plan can be. It is really important to not get too down when the market goes down, and not too excited when the market goes up. The long term of your plan is the most important piece. Are you within the parameters of your plan? Can you meet your retirement goals? Can you meet your educational goals, and a slew of other important goals?

Emotions are always an important part of life, but you do not want your emotions to get caught up in the ups and downs of the market as they can cause you to make rash and unwise decisions. It is so important to stick with your plan. Our team always has your plan in mind when helping you to make investment decisions.