I also remind them that diversified investing helps spread out risk, so they're not putting all their eggs in one basket."
Relatedly, you'll need to be able to handle the ups and downs of the market. Alyson Claire Basso, a managing principal of Hayden Wealth Management in Middleton, Massachusetts, told us she makes it a point with her clients "to discuss past market experiences and potential future market volatility. This way, they feel prepared and know that volatility is something we’ve planned for." This discipline is important when thinking about investment strategies. "We talk about their financial goals and how sticking to their plan can help them ride out the rough patches. I also remind them that diversified investing helps spread out risk, so they're not putting all their eggs in one basket."