All Psyched Up: Financial roller coaster

By Linda Hancock on February 21, 2026.

Those who have gold, silver, crypto or stock market investments have been celebrating – well, at least until Friday when there was a HUGE drop in value.

It was hard to imagine that one gold coin was worth over $7,000 and one silver coin was worth over $150. Crypto and stocks were surging and then it happened. Unexpectedly, and without warning. The market dropped by 30%.

So, here is some advice from a psychological perspective to consider. (Remember I am NOT an accountant or financial planner):

1. This is NOT 1929 or 1980. We might have heard horror stories or even lived with losses in the past, but that does not mean we will suffer the same consequences.

2. Value is something that is assigned to many things in life, but gains or losses are not realized until you sell what you have. Scared people sell when prices are low and wealthy people buy when they are low.

3. Time can work for you if you are just patient and consistent. Investing a little over a long period of time accumulates. In the book “Slight Edge” written by Jeff Olson a man who was dying asked his two sons to decide whether they wanted $1 million after 30 days or an investment of 1 cent on the first day which would double every single day for 30 days. Do the math and see what you might choose. (Spoiled alert: one cent doubled every day for 30 days equals $5,368,709.12 because of compounding).

4. Assets are more than dollars. I think about selling my parents’ home in 1995 for $24,000.00 which they had purchased for $6,000 many years earlier. The same house now is likely valued at triple that amount. Some people invest in land, art, jewels or businesses that can appreciate in time.

5. Know the difference between need and want. This one is tricky because what I think I need might not be what you think you need. This is a very personal concept. Make sure that you focus on your needs rather than your wants and soon you will be very secure financially.

6. Take care of the things over which you do have control. If you pay your bills on time you won’t need to pay interest or penalties and you won’t lose your good credit rating. Submitting claims due to you immediately means that your money is back in your pocket again instead of giving insurance and other companies the benefit of using your refund.

7. Research extensively. Today my dental hygienist stated that she has also purchased terrible cars. Make sure that you read reviews, talk with wise purchasers and ask good questions before handing over your hard-earned cash.

8. Act like the Senate which was originally designed as our country’s “sober second thought”. Rather than being impulsive, plan and think, think again and then act.

9. Consider my grandfather’s sage advice. He used to tell me, “If you have your health, you can earn your wealth”. Taken even further, recognize that your health is likely your best asset!

10. Focus on the true wealth around you. Fortunately, in Canada, we have beautiful landscapes, education and career opportunities as well as the freedom that we can enjoy due to the sacrifices of our military. We have sooo many comforts. Document and give thanks for them!

Don’t let the financial roller coaster take you for a ride! Instead, think about your blessings and invest your time and energy into things that enrich your life today and for the future.

Dr. Linda Hancock, the author of “Life is An Adventure…every step of the way” and “Open for Business Success” is a Registered Psychologist who has a private practice in Calgary. She can be reached by email at office@drlindahancock.com

16
-15