In these interesting times everyone is trying to get enough toilet paper and bread. There are a lot of articles about what to do with our children while they are not attending school, and about COVID-19. However, what do you do when you see your portfolio (big or small) go up and down on a daily basis. If you were not investing until post 2009 all you have known is a market that went up. If you survived previous markets you have seen market volatility before. What is different about this market volatility is it is in part caused by a global health scare. So should that change your reaction?
Hopefully your allocation was balanced so that you have enough monies on hand for what you need to run out any type of recession (if that is what this is). This is a very emotional time for so many reasons but your portfolio should be allocated without emotion. If you are operating on emotions or you are not sure what to do with your portfolio then we recommend contacting a professional advisor (a Certified Financial Planner™). A good website to find one is https://www.letsmakeaplan.org/ or ask your friends who they trust. Also, always check the advisor on https://brokercheck.finra.org/.
This is not the time to panic. You should make sure you have enough monies on hand so that if the volatility continues you have enough to ride out the market. If our office may be of any assistance please call us at Financial Innovations, LLC at 404-458-0065. www.financialinnovations.biz. We are happy to arrange a time to speak.
Securities offered through Triad Advisors, LLC. Member FINRA/SIPC. Advisory services offered through Financial Innovations, LLC. Financial Innovations, LLC is not affiliated with Triad Advisors, LLC.
Laura K. Schilling, J.D., CPA, CFP®, CSA,
Certified Financial Fiduciary® (CFF)
Financial Innovations, LLC
6111 Peachtree Dunwoody Road, Suite F101
Atlanta, Georgia 30328
(404) 393-3063 fax