- Danh Truong
The Financial Aftermath of Brexit
Brexit was the biggest news last month even though it’s probably nothing compared to Pokemon GO.
On June 23, 2016, 52% of Britain voted to exit the European Union. This event threw the world's financials into turmoil. The Dows dropped 3%. The British pound fell to its lowest level since 1985.
The media once again had many predictions about the market, mostly to sell their stories.
Fast forward to this week, we can say that the market is back to where it was, if not, better.
Here are some questions for you to ponder: What would you do in case of events like these? How do you better protect your investment?
If you are a long-term investors, which I strongly believe you should be, you just need to focus on what you can control. Diversify and sticking to your game plan will help you in the long run. You know that some unforeseeable events are bound to happen over time, such as the upcoming elections in November. Who knows what will happen to the market then!
Danh's Tips:
What to focus on during market uncertainties:
Invest in yourself whether it is personal development or professional development. My mentor once said, “For every dollar you invest in yourself, you will get thirty dollars back.” It is the best investment you can make.
Take control of your household budget.
Find ways to earn more and save more.
Manage your investment costs and look for alternatives.
Spend time with your love ones. Nothing is more certain than being there for them.
Follow Chopsticks Alley on social media for more tips like these.
Danh Truong CAL BRE#01951829 Realtor at EQ1 Real Estate danh@eq1re.com
Danh is a team member of EQ1 Real Estate and a Realtor practicing in the Greater Bay Area. He has been a personal finance student for the last 10 years. As a Coach for United Way Silicon Valley Credit Coaching program, he trained and educated low-income clients to improve their credit reports and scores. He helped them with budgeting and improving their finances. He is passionate about helping Vietnamese-American students manage their personal finance.