Coronavirus’(COVID-19) Effect on the Markets: How to Protect Your Retirement
We hope this message finds you and your loved ones happy and healthy.
Over the past few weeks, we have witnessed the effects – physical, economic, and social – of the coronavirus pandemic. New measures to help combat the spread of the virus have taken effect this week such as travel bans, suspension of professional and collegiate sports, as well as postponement of music festivals and museum openings. Even in our own community, we’re seeing the effects on a micro-level. Just running errands around Chapel Hill, Durham, or Raleigh, the potential threat of the virus is palpable as stores run low on disinfectants, emergency food rations, and immune-boosting supplements. Dozens of local companies and schools have even been temporarily closed so that the buildings can be sanitized and to avoid the spread of the virus.
Many factories, local and abroad, have shut down operations in an effort to contain the virus. This disruption of production, supply chains, and world-wide commerce has taken its toll on the global markets. A large number of retirees, especially those heavily invested in stocks, mutual funds, or ETF’s, (exchange-traded funds), are unfortunately feeling the impact the pandemic has had on the global economy.
Given the ongoing unpredictability surrounding the duration and scope of the outbreak, financial consultants are being called on to answer client questions and concerns regarding the recent market plummet. Unfortunately, bad news often increases investment activity, and reacting and trying to time the market takes a toll. Predicting short-term market fluctuations is very difficult and trying to time the market has always been a hard thing to do.
The best way to prepare for the uncertainty we’re experiencing now is by having a diversified financial plan with safeguards in place so that your hard-earned money remains untouched by inevitable financial crises. For nearly two decades, Olympic Golden Retirements has focused on one thing and one thing alone: wealth preservation. In times like these, our clients know that their funds are always 100% protected and will not lose value due to market volatility. As a result, our clients can, and will always, rest easy knowing their retirement is secure, and they can focus solely on keeping their family safe and healthy. This is why we do what we do.
Olympic Golden Retirements has always been committed to helping clients find their peace of mind with a guaranteed, protected plan that’s set up to withstand any unforeseen events – whether local or global. You’ve worked hard your entire life to accrue these assets and you deserve to rest easy knowing that you’ve prepared for and are protected against all possible outcomes. If you’re concerned about the state of your current retirement accounts and would like to rest easy once and for all, give us a call today to create a plan to better protect yourself and your family from future market downturns.
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