I think it’s fair to say most of us did not expect a pandemic this year. When will this pandemic end? At the time of this magazine being uploaded, we do not have many answers. We do know, it will pass.
Many of us have been through tough times in our past. My husband and I were hit hard in the ‘09 recession financially, as well as the sudden death of my Father that year. My heart goes out to all those being affected by this pandemic and experiencing hard times.
What I can speak to you about with confidence is the financial side.
There will always be an event that causes market volatility and triggers a recession and possibly a depression. Your behavior is key to getting through these times.
Please consider the following tips:
• Are you invested according to your risk tolerance and goals?
• Re-balance your accounts to make sure you’re properly diversified.
• It’s a great time to buy solid investments that are on sale right now.
• Don’t panic sell…this is a huge mistake!
• Do not wait for this to pass to evaluate your accounts.
It’s ok to feel emotional and stressed about your investments but making emotional, panicked decisions are rarely the right move. All successful long-term investors are consistently acting on a plan. The investors we see fail are those who consistently react to current events. Historically, the stock market has rebounded 100% of the time. This doesn’t mean it isn’t going to be a painful process with a lot of people greatly impacted, it will be. If you need advice and are unsure of what to do, please reach out to me. The best way to connect is through email at Heather.Mcmaster@edwardjones.com.