When Financial Fear Creeps In
Navigating Market Volatility and Economic Anxiety with Mindfulness
I spend too much time paying attention to the news—less than I used to, but still too much.
Most mornings, I have the discipline to avoid the news until I have spent an hour meditating and cultivating a sense of gratitude for my life, my family, and my abundance.
Starting my day with this routine protects me from spending too much time worrying about world events that are entirely outside of my control. It encourages me to focus instead on what I can do to improve my life and the lives of those in my community.
Today, I made the mistake of looking at the news while making coffee. A story about tariffs drew me in. I was curious about their size and impact on global financial markets. Big mistake. Almost immediately, my body tensed up. I felt myself being pulled into a sea of unpleasant emotions—anxiety, anger, frustration, sadness, and confusion.
Recognizing this, I spent the next hour engaged in my usual morning routine. It helped, but I still felt uneasy and off-kilter.
So, here I am, writing this blog, trying to figure out how to climb out of the emotional morass, hoping my reflections might help if you are struggling with similar feelings.
I have dealt with financial anxiety for much of my life. It is likely why I created a behavioral component in my wealth management firm. This morning’s market downturn awakened my anxious inner child for the first time in a long while.
I reminded myself that I have a buffer of cash and bonds to weather an extended market downturn. I acknowledged that my anxiety stems from a story I am telling myself that today’s tariffs will lead to high inflation and a deep recession. Of course, I don’t know what the future holds. It is possible President Trump will reverse or reduce the tariffs next week or next month, or that the impact of the tariffs will be different than I imagine.
More important, and more soothing to my anxious inner child, is the realization that the things that matter most to me and bring me the greatest joy and meaning don’t cost very much.
Next, I started to think in terms of Realities to Face (RTF), Problems to Solve (PTS), and Opportunities to Capture (OTC).
RTFs are things I don’t like and cannot control. The world is full of them—from tariffs to rising antisemitism to friends battling serious illnesses. I must accept these hard realities. Worrying about them doesn’t help me or anyone else.
PTSs are things I don’t like but have the power to change or at least mitigate. I cannot change today’s new tariffs or the falling balances in my financial accounts. I can reduce my own anxiety by cultivating gratitude for my abundance. I can focus on what I have faith in as I face an uncertain future: my relationship with my wife , the resilience of public companies to adapt and recover, and my own proven ability to navigate turbulent times.
OTCs encourage me to consider how I can benefit from today’s turmoil. My wife, and I love to travel. We know that when times are tough, the travel industry often lowers its prices to attract customers. If there is a recession, great travel deals may emerge. If the market continues to fall, we may invest some additional money in our grandchildren’s college education funds, seizing the opportunity to buy stocks when prices are low.
Heidi and I place a premium on helping people who are suffering, often through no fault of their own. We are painfully aware that many are struggling as the government lays off thousands of workers, and federal programs to help the poor and veterans are being cut back. We understand that despite today’s market losses, we are not threatened with hunger or homelessness. To help those in need, we are making meaningful contributions to the Atlanta Food Bank and other organizations that serve struggling individuals and families.
I hope you will consider joining us in helping the vulnerable in your community who suffer the most when times are tough. If you do, notice how you feel when you move from worrying about an RTF to taking action for a PTS.
If the past few months have left you feeling angry and anxious, I hope today’s blog offers some ideas to calm your anxious inner child and refocus on what truly matters. Perhaps these concepts—accepting your RTFs, addressing your PTSs, and capturing your OTCs—can help guide you forward.
Until our next conversation,
David
Small Steps & Worthy Questions
List three things you’re grateful for, to shift your focus from scarcity to abundance.
Avoid looking at the news first thing in the morning.
What matters most to you? How much does it cost?
How can you help someone else who is struggling?