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Investing in stocks is the very best way to passively build wealth over a lifetime. But too many think it is more like gambling than sensible wealth-creation. The stock market's gyrations of late can certainly reinforce the argument that it's too risky a bet for the family nest egg.

Can the US economy continue to plow ahead against global headwinds of the slowing economies of China, Europe and the developing world? Can it withstand the rapid devaluation of the oil industry and commodity prices? And most important of all, can it remain healthy during a period of rising interest rates?

Since its peak on May 21st, the S&P has fallen by nearly 10%. Stocks were pretty well behaved in the weeks that followed Fed Chair Janet Yellen's May speech in which she warned that interest rates would likely begin rising this year. But China's equity slide last Monday became the catalyst for a more significant US equity slide of 5% for the week ended last Friday. As of this writing, stock averages are down another 3%.

Market cycles, bull and bear, have considerably more impact on our psyche, confidence, and outlook than we perhaps realize. When stocks have risen for a period long enough for us to believe the trend will last, things simply look brighter. We feel more confident about our future, loosen our grip on our money, and feel more comfortable taking risk. With the the Total US Stock market up some 200% since March of 2009, we have had numerous discussions around increasing stock exposure to capture larger returns - it's only normal.

"People call it luck when you've acted more sensibly then they have." Amy Tan

When we invest or expend money to make a profit, we start from one of two vantages: Confidence or Luck. The first requires effort, competence, and a thorough understanding of what is controllable and what is not controllable and we plan contingencies for those things that are not controllable. The second perspective is the veritable flip a coin. Luck-dependent investment decisions are based on things like past performance, colorful brochures, and influential arguments.

Yesterday's report that the number of Americans filing for unemployment insurance was the lowest since the early 70's provides more evidence that the US economy is becoming stronger. Investors are becoming convinced that the Federal Reserve will soon begin raising interest rates back to levels reflective of a healthy economy.

We all have our to-do lists, whether on scraps of paper or some digital device. They contain the usual stuff like groceries, leaking faucets needing repair, and dinner parties to plan. But they also contain what I'll call 'big heavies.' Those to-do's that invariably find their way to the bottom of our lists that take root there for months or years. Big heavies are things like life insurance planning, writing or updating wills, and moving to a better financial advisory relationship. We absolutely understand how tremendously important these things are when we think about them, but those thoughts are so quickly eclipsed by more immediate thoughts like getting those steaks for tonight's dinner party.