One question I’ve been getting asked a lot is “Should I still invest my money during this pandemic, or should I move everything to cash?” First of all, this is a perfect time to have a professional evaluate your portfolio to make sure the investments chosen are in alignment with your willingness to lose money…or not lose. This would include workplace retirement accounts like a 401k or any other investment account you opened on your own. Secondly, yes, the Coronavirus is causing stock market volatility right now, but this isn’t the first time a major epidemic or outbreak has happened.
Good news is, there are ways that you can take full advantage of what’s going on when it comes to your personal finances and treat this time of panic as an opportunity vs. as a threat to your financial independence. Investments are at a lower cost and now is a perfect time to buy. Take advantage of dollar-cost averaging and buy more in shares/units now before their prices increase. While it’s hard to see light at the end of the tunnel, several Economists are predicting the markets will start to recover from this pandemic before the end of the year and you want to make sure your investments fully benefit from the ride back up. Overall, do not try to make these decisions on your own, speak with one of our licensed financial professionals who can give you some professional guidance: https://www.nafls.com/financial-advising-services/
Want to see if this strategy makes sense for you, talk to one of our licensed financial professionals: https://www.nafls.com/financial-advising-services/
Please feel free to reach out to Chantay Moore directly at:Facebook.com/nativeafls