Miss Unsinkable

As investors, there is a lot to learn from “Miss Unsinkable.”

At the age of 24, Violet Jessop was employed as a steward on board the RMS Olympic when it collided with the HMS Hawke. While both ships were heavily damaged, the Olympic made it into port. As her first crash at sea, with no need to abandon ship, it seemed to have been a non-event in her memoirs.

In 1912, she was part of the crew that boarded and set sail on the Titanic. While in her quarters, she heard a loud crash and then some crunching noises. Then she heard the announcement that they were sinking. Believing there was a plan in place, she calmly gathered her passengers, even taking her time to find the right hat to wear, before boarding the lifeboats.

Hers was one of the last lifeboats pulled from the water.

That harrowing experience didn’t stop her from going back to sea. She wanted the adventure and needed the income. Just four years after her experience on the Titanic, Violet was aboard the HMHS Britannic (a hospital ship being used during WWI). As this ship was on its way to the Greek town of Moudros, it struck a deep sea mine. Everyone felt the explosion but still reacted with a sense of calm. Not due to blind trust or denial of the situation, but due to experience in war.

Again, Miss Unsinkable was able to get to a lifeboat and, despite the captain's horrible decision-making, survived another shipwreck at sea.

As we read her story, we found two lessons for us as investors so we can be unsinkable.

First, market volatility can be dramatic and scary. Proper planning and a focus on the destination can inform our decisions about how we can get to port.

Second, while Violet was able to survive the Titanic disaster despite faulty guidance, every investor should be fully aware of their situation so they can make the best decisions possible when markets appear to be crashing. Proper guidance and education should allow you to focus on things in life that are far more important than the markets (like finding the right hat).

We're sure you can see other lessons here, too. Most importantly? Miss Jessop successfully retired and had plenty of stories to tell until her passing in 1971.

That is our goal for the families we work with: to make it to and live a happy retirement. We do that with proper education and guidance.

Resource:

https://explorethearchive.com/violet-jessop 

Securities offered through Lion Street Financial, Member FINRA & SIPC. Investment Advisory Services offered through Csenge Advisory Group and Compass Advisory Partners, dba Fidelis Financial Strategies. LSF is not an affiliated company. Information provided by Bill Good Marketing.