A few weeks ago, a client emailed me.
She was worried.
Iran was in the news.
So was the federal debt, rising interest rates, and uncertainty about what’s coming next.
She wanted to know if her portfolio — and her retirement — was okay.
She wasn’t alone. I’ve had a handful of similar conversations lately.
And I completely understand why.
The world feels unsettled right now. And when you’ve spent decades building toward retirement, watching your account balance drop — even a little — can feel alarming.
Here’s the thing: what’s happening right now is almost certainly normal.
Let me show you what I mean.
So far in 2026 (through late March), the S&P 500 has dropped more than 1% in a single day 10 times out of 59 trading days. That’s about 17% of the time.
Over the past 10 years, that number was closer to 11%. So yes — a bit more volatility lately.
But here’s the longer view: since the S&P 500 launched in 1957, days like these have happened about 16.5% of the time on average.
What we’re experiencing right now is essentially the long-run historical average.
Not exceptional.
Not a crisis.
Just markets doing what markets do.
There’s something else worth knowing.
No one I work with holds 100% of their money in the S&P 500.
A well-diversified portfolio spreads risk across different types of investments — and that diversification dampens the swings.
The volatility you see in the headlines isn’t the volatility in your account.
Related: Research also shows that investors who check their portfolios daily are unhappy nearly half the time.
Those who check annually? Happy about 80% of the time.
Here’s a useful way to think about all of this.
Before a hike, you check the weather forecast.
If there’s a chance of rain, you pack a jacket. And then you go.
You don’t cancel the whole trip because the sky looks gray.
You’ve prepared. You trust the plan. You walk out the door and enjoy the day.
That’s what a good retirement plan does.
It’s designed for uncertainty.
What to do next
I have one recommendation.
Close the app. Put down your phone. Turn off the news and get off social media.
Then go outside.
Take a walk.
Cook dinner with your spouse.
Call a friend.
Do something that reminds you why you’ve been saving all these years.
Your money exists to support your life — not to create a constant source of anxiety and distraction.
Bottom line:
Markets are doing roughly what they’ve always done. Your portfolio is diversified. Your plan was built for moments like this.
If you’re feeling unsettled, or you’d just like to talk through where things stand, I’m here.
Reply to this email or get in touch — I’d be glad to help.
Links and things
I encourage you to read both of these:
Why time speeds up as you age (and what to do about it) by George Mack
Why You’re Wasting Your Time Worrying About Running Out of Money by Dan Haylett
Thank you for reading!
If you have a question or would like my advice, simply reply to this email with your questions and I’ll be happy to respond with my thoughts…
Until next Wednesday,
Russ
Great perspective!
Checking every day is not due diligence. It is anxiety wearing the costume of responsibility. I have watched women spend thirty years building carefully and then white-knuckle every headline as though the plan they built was somehow fragile. The plan is not fragile. The habit of worry is just very hard to put down.