Every time there's a stock market crash, I'm reminded how much people don't understand how the stock market works.
In fact, when you hear about people losing so much money in 2008 or when COVID began, most of the time it was for that reason...they didn't understand how it worked.
When the market crashes, you haven't lost anything. Your stocks, mutual funds, etc. have only gone down in value.
In fact, if you handle your personal finances properly, it's a time to celebrate when the market goes down. The stocks are on sale, after all.
But when people panic and pull all their money out of the market when it's low, they really have lost. They got off the roller coaster at the wrong time.
Music lessons are the same sort of roller coaster. We have ups, and we have downs. That's just how it works. Guaranteed.
The challenge is finding the courage to push through those low points. For ourselves, and for our kids. And figuring out how to get to that high point again.
Too often, students and parents pull out at the wrong time. They have a bad week, a bad month, they decide to pull out, and the whole game is over.
But when we understand how the system of ups and downs work, then we can work that system.
And make some incredible things happen.