Headlines about the Coronavirus Pandemic and the stock market drop can unnerve even the most seasoned investor.
Should I change my investments because of this, or even change my retirement plans?
Although we have considered a market downturn was coming for economic reasons, no one could have predicted the swift market fall because of this virus. When it comes to the stock market, we cannot control its movement yet we can control our diversification and the process by which we make our investment decisions.
It is likely that we are in a recession but the depth and severity of this recession is still unknown. Hopefully, we will rebound quickly with the restart of global economic activity and the intervention of the federal government. Now, more than ever, it is important to work with someone you know and trust to help navigate through this situation.
Just as in 2007-2009’s Great Recession, our economy and market will sustain itself and recover.