The market can be volatile, but don’t panic … it’s not time to be a gambler. While you may be tempted to sell off your assets after watching the market go down one day and up the next, resisting the urge to panic will likely serve you best in the long run.
With businesses closing, people working from home, and stock prices falling, the Coronavirus (COVID-19) is having a real financial impact on American citizens and their businesses. In the midst of loss-causing closures, businesses may need to file claims with their property insurance carriers.
It is likely many of you, your friends, family, and business associates have recently suffered substantial losses to your portfolios, 401(k) plans, deferred compensation plans, and related investment accounts. The question you must first ask is whether this was the fault of the market or was it primarily the fault of bad investment planning and advice by your broker.
