Crisis Du Jour – What to do about Cyprus?

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 .

crisisdujour

 

The foregoing content reflects the opinions of Crimmins Wealth Management and is subject to change at any time without notice. Content provided herein is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results. All investing involves risk, including the potential for loss of principal. There is no guarantee that any investment plan or strategy will be successful.

About Dan Crimmins

Dan Crimmins, co-founder of Crimmins Wealth Management, is a financial coach and fee only financial planner. Have a financial question? ASK DAN

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