Crisis Du Jour – What to do about Cyprus?

By Dan Crimmins on March 25, 2013 in Behavioral Factors in Investing

If you have been watching or reading the news lately, you have heard about the small country of Cyprus and its debt problems. Before last week, most of us couldn’t have picked out the Mediterranean island on a global map.

However, it seems that the media can not help but turn all daily news into a crisis or a crisis du jour. However, the odds of this most recent crisis having any impact on you are slim to none (unless you’re a depositor in a Cypriot bank).

Below Carl Richards has drawn a chart which highlights how these manufactured crisis’ should be handled. As you see below, there is no benefit to you to worry about these crisis’s and the only real danger is that you will allow this crisis or the one next week, or the week after that… to cause you to adjust from focusing on the items that you can control. Create a plan which will allow you to achieve the life that you envision and stayed focused and disciplined on that pursuit regardless of debt problems on an island far far away .

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