I had a question in the Meaningful Money Facebook group the other day,

address below.

The question was from Tom, who asked about staying the course in challenging

investment markets.

Talk about a pertinent question right now.

Okay here is Tom's full question. Tom says you've often talked about how important it is to set your investment strategy up right and then stick to the plan through thick and thin.

However, many are discovering that it's one thing imagining how you'll react in these circumstances and another facing up to the reality.

From the posts you see on forums, people find it harder to stay the course than they imagined.

What are good techniques for getting a really sound understanding in good times

of how you'll feel when the shit hits the fan so that you can really get the right strategy?

I feel that the standard risk appetite questionnaires really don't cut it.

Good question, Tom. Let's put five minutes on the clock right here.

Say quick, thank you to my friends at 7 Investment Management for continuing to sponsor the show and let's crack on

Standard risk questionnaires really don't cut it often they are built on flawed assumptions and sometimes even vested interests which is far from ideal.

I referenced a free one only on Wednesdays podcast actually just gone from

Standard Life.

That one is put together by The Smart People at Oxford Risk, so it's definitely a step up from

many of them certainly a step up from asking you where you sit on a scale of

one to ten or something simplistic like that but still it's primarily about

investment risk and I'll qualify what I mean by that in a sec.

My good friend Neil Bage of BIQ

has a great free app called Beam,

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