We are living in extraordinary times. So extraordinary, that you may find yourself searching for answers to questions like, ‘should I stop my 401k during Coronavirus’, ‘will my 401k recover after Coronavirus’, ‘how to protect my 401k or investments during COVID-19’, ‘will the stock market recover’. If you find yourself scouring the internet for answers to questions like these, we want to first remind you to take a breath. In addition, we want to provide you with this helpful and reassuring information from DavieLiFE supporter/advertiser, Al Seymour, a Wealth Manager with Marzano Capital Group.
Answers to Your Investment Concerns During the Current Market
By Al Seymour, ChFC, CLU, CRPC, CASL, AEP, CAP – Wealth Manager with Marzano Capital Group
Many of us are sequestered during this time. We are caring for our families, concerned about jobs and the novel Coronavirus. We’re also aware of what has occurred in the stock market. In this tough time, perhaps a message of encouragement is in order.
Often, these times bring about changes that will stimulate the market. Smart investors are taking advantage of buying because of the lower prices for shares. Others are benefitting from reinvested dividends in their investments that are also buying shares at bargain basement prices. If you have doubts about these facts and your current portfolio values, you should contact your financial advisor. You are not in this alone and they are here to help you navigate the current market.
Consider also that our country has been through many crises over the years, but the market has always recovered. So, no, you should not stop your 401K during Coronavirus. Don’t let your emotions, the media or political views cloud your understanding of the market. During this time, you may need to reevaluate your risk tolerance as part of your overall financial plan. Since the start of the Coronavirus crisis, we have already seen the market recover some of its losses. Remember also that while these markets are tough, the only real loss will be if you sell. Stay the course and your patience will be rewarded.
To recap how you should respond to investment questions during Coronavirus:
- consider reevaluating your risk tolerance as part of your overall financial plan.
- if you have doubts or concerns regarding your current investments, contact your financial advisor.
- selling is not the answer.
- hang in there, stay the course and you will be rewarded–history reminds us that the market is resilient.
If you are in need of an advisor, Al Seymour/Marzano Capital Group is considered an essential business and is available to help you. They have a number of options in place to work with clients during this time of social distancing and encourage you to contact them so you can rest easy knowing that your investments are in good care.
Contact Al Seymour at 336-575-2673 or by email at aseymour@marzanocapitalgroup.com.
