How does the coronavirus and current state of the market affect your long-term plan?Insights
We’ve seen the market volatility increase substantially in the last week, due to growing concerns over the coronavirus, and its impact on the global economy. While it certainly is more fun to watch the market climb to record highs, it’s important on all occasions not to try to time the market. Downward turns in the market present opportunities for entry rather than exit. In fact, moving investments out of the stock market now could cause long term damage. The name of the game remains having a long-term planning strategy with the amount of risk appropriate for each person’s unique situation. A safe plan is one that encourages staying the course and remaining true to your avaii, latin for life plan, in every market scenario.
We of course are monitoring the situation and have taken measures prior to the downturn to re-balance client accounts, as well as increased cash positions for our retired clients. We will continue to serve as fiduciaries, acting in the best interest of our clients at all times. We are not shaken.
If you aren't currently engaged with our firm and are realizing a need to have a personalized financial plan, please contact us.