Focus on good news, focus on what you can control. Even with the bad, there is always a thread of good. Capital markets continue their standard deviation swings away from the mean — one minute ramping up based upon news of profits on one stock; then, melting down when another statistic such as an increase in unemployment numbers in the United States, or an estimated $90 billion in losses at big, big US banks, rolls up off Bloomberg.

It's hard to know where to turn. Unfortunately, negativity turns the financial talking heads the most. It legitimises their existence because the worse things are, the more opportunities they have to parade one expert after another into the limelight to advise the masses about "what you (the average person) need to do financially next!"

As, if they really understood your life? When you are working two jobs with two kids, a mortgage or high rent, homework, housework, husbanding (or wifing) and exhaustion, you don't have a lot of time to think about your finances. All the 'advice' out there just makes you feel more insecure and worried about your current state.

This point was made quite clearly when reading one "expert's" opinion on his financial blog. His considered professional opinion to essentially sell short the entire US equity and bond market, evoked many trashing comments about just how worthless this advice was and how little relevance it has to 99 percent of our consumer nation.

Sometimes, we become so emotionally triggered by Barbie and Ken media dolls that we allow them to set our barometers and ruin our day. They talk alike, and look alike with the all too common Botox effect (not a line on that face), the puffy lip poses and those vitally perky surgically alert eyes that always appear absolutely, completely knowledgeable.

There is something offsetting though — have you ever noticed that their eyelids don't close? Well, enough criticism, we all have a right to determine how we look. However, these people are reading the news — that does not mean they understand it. Can we take any credence in what they say?

Alright, CNBC does a good job, I grant that, but even there it can become "all just a bit too much". Bad news that you cannot control should be relegated to the do not listen to, do not read category. Carry that mantra over to the do not watch your portfolio every waking minute.

A self-directed investor has a stake in tracking markets; the rest of us are paying experienced qualified professionals to manage our pensions, mutual funds and portfolios. It is their job to obsess about bad financial news and performance.

If your money managers (this includes good mutual funds) are really, really good, and many, many are, they will have long anticipated the latest market downturn with strategic defensive measures. If they didn't, you are now facing bad news, and need to revisit this financial relationship.

It is well to remember that bad news for some is good news for others. In financial markets, vultures have begun to circle. Soon, if not now, they will begin to pick off companies and stock that is beaten down, cheap, but still having redeemable qualities.

Vultures make a market every time the rest of us give in to emotion and sell. They love downturns, volatility, and nervous investors. They make enormous sums of money taking the contrarian view.

Some are not even vultures, just incredibly shrewd. Warren Buffet of Berkshire Hathaway comes readily to mind, particularly since he announced recently a brand new start-up bond insurer. He waits, assesses, and waits patiently some more until the intrinsic value of a company is just about right for his $50 billion pocketbook. Nor did he participate in any of the sub-prime mess that has brought so many financial services companies to their knees.

There is so much to be experienced that is good. These are all complex money manoeuvres that we can only see through a dim lens. But, we can focus on the good in our lives. We can focus on what we can control, starting with setting good goals to increase your personal career value by obtaining a good education.

You are never too old for continuing personal upgrades. Never! A recent heroine of mine just passed away. Although, I had never met her, I thought she was an amazing lady. At the age of 66 after losing her spouse, she returned to university and obtained a master's degree, then taught for a decade. What a tribute to a life truly lived.

A good budget is a must for every family, even a family of one. All profitable companies have closely monitored budgets. Every government which wants to control the public purse with full accountability to its constituency develops budgets and adheres to them.

Why shouldn't any family operate in the same manner? With inflation diminishing your purchasing power every single minute, an accountable budget is a must for survival and financial success.

Good expenditures are easy to define. Except for the occasional small treat, good expenses should be purchasing only what you need, not what you want. This discipline translates very quickly into savings, or at least holding inflation at bay.

Consider this. No company operating for profit and answerable to shareholders is allowed to rush and buy whatever it wants. They enforce a strict budget pattern, spending for controlled operating costs, and laying aside savings for very large capital improvements. Why can't we do that?

Good savings patterns. When you delay gratification on the expense side, you are on the road to significant savings success on the asset accumulation side. A good job is a godsend. Be thankful you have one.

If you don't, why not start to develop the mindset that no matter the job, you will make it the best you can, every single day. Good might become far better, just with a change in attitude.

Good relationships are absolutely the best. There are so many people functioning in relationship situations that are sad, marginal, destructive and lonely. Celebrate yours and work on making it better. We so easily take each other for granted.

Try harder, be more considerate, show you care. Life is good, everything is good. Repeat it enough and you will make it so. Now I have to go and take my own advice.

Martha Harris Myron CPA -NH1929, CFP® -67184 (US licenses) is a dual citizen (US and Bermuda). She is a Senior Wealth Manager at Argus Financial Limited, specializing in comprehensive financial solutions and investment advisory services for individual private clients and their families, business owners, endowments and trusts. DirectLine: 294-5709. Confidential email can be directed to mmyron@argusfinancial.bm The article expresses the opinion of the author alone. Under no circumstances is the content of this article to be taken as specific individual investment advice, nor as a recommendation to buy/ sell any investment product. The Editor of the Royal Gazette has final right of approval over headlines, content, and length/brevity of article.