Things Feel Crazy. What Do I Do?
Keep Calm and Go to Your Advisor
As medical professionals, many of you are beginning to see the fallout of COVID-19, perhaps in a more profound way than even the general public.
Despite the fear and uncertainty now, it is essential to remember that we will weather this storm. We are smart and resilient. Things will settle down, and when they do, we will need to be prepared to move forward and to stay focused on our goals — in our career and our financial life.
Not surprisingly, the events of recent weeks have had dramatic effects on the market. As a financial advisor, I’ve been asked to give general advice on what to do in this economic environment.
But here’s the truth—
There is no one-size-fits-all solution or strategy for this situation. In other words, nobody could (or should) give advice that is too general when it comes to navigating this Bear market.
Prudent investors will speak to their financial advisors.
Working with a guide who can assess your portfolio and your financial goals will be able to give you the kind of insights needed to make clear-headed decisions when it comes to your investments and your investment strategy.
Each one of you is at a unique period in your financial growth, and as such, each one of you will need a customized tactic to weather this storm, wisely.
Is there an opportunity?
Yes. There is always opportunity in chaos. The adage, “buy low, sell high” is a good rule of thumb, but whether or not we follow this tactic is very much dependent on the stage that you’re at in your financial game plan, your career, and your life, in general.
The best advice is not to panic. There’s always an investment strategy that’s appropriate for you. That strategy will involve:
- An overview of your current financial situation
- An assessment of your retirement goals
- An evaluation of your current investment portfolio
- Suggested tactics to protect and grow your assets.
A good advisor will give you the guidance to navigate this new situation with clarity and purpose. So how do we do this?
Call, text, email, or schedule a video conference.
Social distancing doesn’t mean we can’t speak face-to-face.
Remember, we will get through this.
To get thoughtful advice on investment and retirement planning, speak to a CRNA Financial and Retirement advisor.
The future is always brighter when you have the right plan.