There’s no denying it, no way around it we’re in a period of heightened uncertainty. THE virus has us all on alert regarding health or finances. Smart thing to do now is to just slow down and adapt our lives to whatever it takes to experience the least repercussion as possible. The buzz phrase I’m hearing a lot in regards to taking care of your health is “social distancing”. Allowing for these circumstances that just makes common sense. And I’m going to coin a phrase to assist you financially and I’m calling it… portfolio distancing. In other words, stay away from your portfolio and simply disregard it! It too just makes sense and certainly will be best for your mental health. Furthermore, often folks who make changes at this point in the market cycle lose money over time. It’s easy to get out of the investment because it’s based on emotion but, it’s hard to get back in because that’s based on strategy and discipline. What’s done is done and as the old adage goes the horse has left the barn. If you were allocated appropriately based on who you are and your objectives you will be fine. And I want to point out that if you are investing systematically through a retirement plan or dollar-cost averaging by bank draft, you’re now buying at a discount. So, to quote one of the most highly esteemed renowned creative minds of our time… let it be!
One other thing, I want to encourage you to be deliberate about something. Do you know any elderly people who might need assurance or assistance in any way? For instance, who might need you to shop for them? Or how about checking in with your neighbors and offering to help in any way you can if they need you. Let’s stay positive and look for opportunities to serve in this and we’ll all be better for it when it’s done.
You may be aware that Blackrock is the largest asset manager in the world. This week’s commentary by them is insightful and I want you to have it instead of my usual weekly market update.
Don’t hesitate to call if you have concerns about what Corona means in your life, have questions about your portfolio or feel that we can help you in any way.
Jeff Christian CFP, CRPC
Do a little more each day than you think you possibly can.