Financial Library

Advice to a Future Widow

Most wives outlive their husbands. Women live longer than men the same age and tend to marry men who are older than they are. So, if you're a wife, it is more likely you will become a widow than your husband becoming a widower.

Knowing this, how can you prepare for it?

First of all, when widowhood strikes, don't do anything drastic. Do not sell the house or car. Don't decide to move to another town. You have just suffered a very traumatic experience and your system needs time to adjust to it. Take your time.

Cycle of Market Emotions

Getting emotional about investments can easily lead to poor decisions as investors fall prey to negative thoughts and fears. The chart below helps to illustrate the emotional aspects of investing.

The human brain constantly searches for trends or patterns in things, trying to make sense out of even random events and data. This essential life skill is not very helpful when it comes to investing.

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