For many, financial advice is intimidating, confusing, and full of risk. It’s a fear of the unknown, wrapped up in a highly emotional realization that your debt levels may be out of control, you may never retire, you feel lost and you don’t know the answers. It’s something that’s very easy to just ‘push to next week.’ But that’s the one exact thing that you shouldn’t do.
We started Plectrum Advisers with the goal to help others in our community.
Patience is the only tool we have at the moment. At some point the virus will be under control, and a recovery will begin. Hopefully it’s sooner, but in any case it will happen. Investors should focus on making sure their portfolios are properly constructed so that when recovery occurs, they will be positioned to participate.
One of the biggest lessons from the 2008 financial crisis still holds true: Sticking to your long-term goals, and having an investment strategy to match, will get you where you want to be.
The stock market can’t see around corners right now, but that doesn’t mean it won’t. As hard as it is to feel right now, at some point this crisis will ease.
As you may be feeling a bit overwhelmed by the recent financial news, I wanted to share my thoughts that I hope will provide some clarity for you.
