Everyone has a plan until you get punched in the mouth

<p><strong>Josh: </strong> Welcome to the making smart decisions podcast. I'm Josh Toronto. And today, we're opening with a quote from Mike Tyson. Mike Tyson famously said everyone has a plan until they get punched in the mouth. This was in response to a reporter's question regarding whether or not he was worried about fighting Evander Holyfield.</p><p>[00:01:47] There's a lot of hype leading up to that fight. Holyfield's camp kept promoting. Hey, we have a plan. To beat iron Mike Tyson. And up until that point, he was unstoppable. After that fight, he was still unstoppable, but his famous quote about being punched in the mouth resonates with many people.  I've also heard it said in the military with generals that no plan survives the battlefield.</p><p>[00:02:07] I want to go with that and take it as a modern-day spin on. It's not how many times you get knocked down. It's how many times you get up. Let me unpack that a little bit, what I'm viewing right now, what I see in the market, and what I'm hearing from people. And seeing people do not assume my clients.</p><p>[00:02:22]But other people is this issue with people, get scared. People get punched in the mouth, bad things happen. Things don't go according to plan, but this is life. And I feel as though we have to roll with the punches.  I got licensed. I became fully licensed, and I was advising clients as far back as when I was 20.</p><p>[00:02:43] And that was between my sophomore and junior year of college now, right when I graduated college in 2000, which he got officially makes me feel really old in 2000, 2001, the tech bubble burst. And that affected a lot of people's investments. Now my clients were properly positioned, so it really wasn't that bad on my end, but I saw many people in the market where that was a big issue.</p><p>[00:03:02] People got scared. They lost money, knee jerk response. They pulled out of the market, and it took them a very long time to get comfortable again and go back into the market. And consequently, they missed a lo