When the stock market drops like it has the past two weeks, I like to take a little time out of my day to think about my total worth (TW) in a way that doesn’t involve money. Normally, when the stock market is going up, my TW is all about money. If I was at a pre-COVID party and I was talking to someone, my TW would typically come up within the first two minutes of conversation.
“So, what do you do for a living?”
“I’m a writer, you?”
“I’m an obstetrician.”
“What’s your total worth?”
“Excuse me?”
“Your TW. Your total worth. Mine is a couple of million depending on what Apple does today. It could be a little more millions or a little less millions depending on how many shares they buy back this week.”
“Excuse me. I think I see a good friend of mine across the room, away from your TW.”
When the market drops, it’s important to shift your way of thinking and place value on other parts of your life that are not connected to money. I usually sit down and write out a list of things I’ve done in the past week that add value to the world.
Things I’ve Done That Add Value To The World
- I filled up my Prius with gas. Because I drive a Prius, I don’t use as much gas as I could which means I’m a little better than you because I’m saving the planet every time I drive.
- I ate the leftover Chinese. I could’ve just thrown it away because it was gross but I didn’t because I’m not wasteful. I wanted to conserve so I heated up the shrimp fried rice and smothered it in day old sweet & sour sauce because I am a team player committed to planet earth. Especially when the market is falling.
- I read a story to my daughter. Most of you probably never read to your kids because you’re too busy scrolling through Instagram or eating lemon creme pies but I read to my daughter the other night so she won’t grow up to be illiterate which is ultimately better for the planet.
- I selected an image of an Asian mother reading to her child for this story to be inclusive.
- I shared my HBO password with another less fortunate family, bringing the total number of families sharing my password to 16.
- I walked my dog so he would’t be forced to sit around all day and start feeling like he is a cat.
- I didn’t put insane amounts of pressure on my extended family to buy Girl Scout cookies from us.
- I listened to NPR. A few times.
- I wore a mask inside because I was thinking about going outside.
- I flossed.
Sure, the total worth of my portfolio may have dropped 15% these past two weeks. But my total worth as a human is on the rise. Whether we’re in a pullback or headed towards a full blown recession, remember that your TW is more than the value of your portfolio. It’s whatever you make it.
