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When surveyed in 2020 after the onset of the COVID-19 pandemic, advisors indicated that 85 percent of their clients who had a financial plan felt more prepared to weather market volatility than those who did not. Sources: 1 eMoney COVID-19 Pulse Research, May 5 – May 19, 2020, n=227 2 Liberto, Daniel. ” Investopedia , 2022.
While the data isnt as black and white as other aspects of finance, the impact of behavioral finance is clearjust consider the Covid-induced crash in February 2020 or the meme stock phenomenon of 2021 (to name a few more recent events). If theyve helped me generate so much wealth, Im sticking with it.
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