Navigating a Pandemic and Volatile MarketInsights
A Word from One of FSB Premier's Trusted Wealth Advisors
By: Tiffany Coffin
We stand with you in both the good and bad times.
Yes, the World Health Organization declared the coronavirus (COVID -19) a global pandemic. There are over 1,000 Americans diagnosed, with 38 deaths so far, and the numbers are climbing. Travels bans are increasing, universities are shutting down, the NBA cancelled its season, there has been a run on toilet paper and hand sanitizer, and on it goes. Meanwhile, a cloud of uncertainty hangs above us all.
Let us take a step back and look at the big picture. There are two possibilities, either the world ends or we recover, like every other time these types of things have occurred. Historically, we have always recovered and there is no reason to believe this time will be any different.
It will get better. When? The honest answer is we do not know, because no one knows. There are reports on both sides of the argument. This could go away soon or it could get far worse before it gets better. If you knew a month ago when we hit all-time highs that we would be here today and you know exactly when to get back into the market, then you have successfully timed the market. However, I don’t know anyone who has been able to do this successfully.
We have put together a plan to meet your goals through all the ups and downs of the market. If you believe the market will eventually come back and life will go back to normal one day, you stay the course. We will continue to look for opportunities to re-balance and take advantage of tax trading opportunities in your accounts. In addition, we have historically low interest rates, take advantage, look at your debt, and refinance.
Times like this are why we have a plan. Emotions may run high, but a solid plan can lead the way to brighter days. There will be a recovery; we just have to stay engaged to reap the benefits.
This blog is intended to be an informational resource for readers. The views expressed on this blog are those of the bloggers, and not necessarily those of FSB Premier. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. FSB Premier does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog.
Past performance of any market results is no assurance of future performance. The information contained herein has been obtained from sources deemed reliable but is not guaranteed. Investments and insurance products are not FDIC insured, have no bank guarantee, and may lose value.