In times like these, it makes sense to start with a plan, stay committed, stay aware and stick with a plan.

Hindsight bias exists prominently in investing.

No matter the market conditions, there are always sensational reports from the financial entertainment media or the investing community that a market event, such as an extreme market correction or increase, was foreseen, perhaps even obvious. If you begin to believe you’ve missed opportunities or you’re at risk for losses, you might attempt to overcorrect by trying to time the markets or weighting your portfolio too heavily in one area.

Hindsight bias is unavoidable behavior, but don’t let it derail you. You’ve followed your financial plan and made good investing decisions in the past. Trust those decisions and trust the financial plan you’ve put in place.

And remember your financial plan the next time hindsight says you’re wrong.

Read more: https://investornews.vanguard/hindsight-bias-says-to-abandon-your-plan-heres-why-you-shouldnt/