Retirement Resources President and Investment Advisor, Dave Boike, writes about the cyclical financial ups and downs and quells any fears one may have about those scary downturns always happening in the month of October.

Auburn Hills, MI – October 7, 2022 – Dave Boike, President of Retirement Resources and co-author of The Ultimate Success Guide with Brian Tracy published a new blog post on the company website entitled “Not-So-Scary October.” Mr. Boike recognizes the reasons October is associated with being scary, but says it’s not just October when bad things happen in the financial markets.

“October is typically thought of as the scariest month of the year for a few reasons,” writes Boike. He continues, “For starters, we begin to feel the first chill in the air that tell us summer is over and that it’s time to brace ourselves for the winter weather. October is also when Halloween happens. Traditionally that means haunted houses and children as well as the young at heart dressing up as witches and warlocks, ghosts, and goblins, and more.”

According to Boike, “In the financial world, many people begin to tremble in October since it was October 1929 when the biggest stock market crash in history started.” He elaborates, “October 28 and 29th is when it began. Then, there was Black Monday on October 19, 1987. October stimulates recession fears in some people even though we have seen the market recover after every setback.” Boike adds, “ While it took nearly 50 years for the market to recover after the ’29 crash, it didn’t take that long for the market to stabilize and start record-breaking growth after the ’87 crash.”

“The fact is,” says Boike, “that historically there are Bear and Bull Markets. The ups and the downs, they come, and they go. Remember also that there have been other scary months outside of October.” He validates his point, “The Dot COM crash did not happen in October, nor did the real-estate crash of 2008, nor did the recent COVID-19 pandemic that caused the market to falter.”

Read the entire blog post at LINK HERE

About Dave Boike

Dave is a well-known financial educator, co-author of The Ultimate Success Guide with Brian Tracy, author of High Tide and contributing author of 21st Century Wealth.  For over 30 years, Dave has been teaching investors age 55+ how to preserve their assets, increase their income, and reduce income taxes. He has taught Retirement Planning Classes at Michigan State University, Wayne State University and Oakland Community College. 

For over 4 years, Dave was featured on NBC25 every weeknight at 6PM, discussing the daily market wrap-up. Many area retirees have used Dave’s advice to enjoy a financially independent retirement.

Dave is a Chartered Financial Consultant, a designation awarded only to the most experienced advisors who have completed a 10-course program of study, through the American College in Pennsylvania, focusing on Tax, Investment, Risk Management, Retirement and Estate Planning.  He is an approved Member of the International Association of Registered Financial Planners, the Society of Financial Service Professionals.  As a strong advocate of education, Dave recently spoke at The Michigan Association of CPA’s, and has taught retirement planning classes at Michigan State Education Center, Wayne State University, and Oakland Community College

Dave’s latest book, High Tide, A Practical Guide for Affluent Retirees to Protect, Profit and Prosper from the Coming Storm, talks specifically on the important challenges retirees are facing today and some new cutting-edge solutions to address those challenges.  He teaches you in this easy to read book how to take the steps necessary to achieve your successful retirement.

Dave is Managing Member and Chief Compliance Officer of Retirement Resources, LLC, a Registered Investment Advisory Firm. Every year, since 2011, Retirement Resources has been awarded the 5 Star Wealth Manager of Michigan, which is only given to the top 7% of advisory firms.

This content is provided for informational and educational purposes only. The information, analysis and opinions expressed herein reflect our judgment as of the date of writing and are subject to change at any time without notice. They are not intended to constitute legal, tax, securities or investment advice or a recommended course of action in any given situation. All investments carry a certain risk and there is no assurance that an investment will provide positive performance over any period of time. Information obtained from third party resources is believed to be reliable but not guaranteed. Past performance is not indicative of future results.