This is my busy time, working long hours preparing income tax returns, but I wanted to respond to your concerns.
News of the coronavirus spread and its impact on the economy and stock markets is constant.
People ask: “can I get the virus from a package delivered to me from China” (the answer via the CDC is “no”).
As some say, it’s not “if” but “when” in terms of you being in contact. That is upsetting.
At that same time, experts ask us all not to panic. And financial people urge us to stay the course.
If you do not already have a plan, here is a good overview with links to CDC posts on making a plan with your family – NY Times prepare for coronavirus.
As for the stock market, here is a good NY Times piece discussing the rationale for sticking to your long-term investment plan: The Market Is Moving. Most People Should Sit Still.
Here is a more sobering assessment: It’s a ‘Swimming Naked’ Moment: The Financial System Has a Real Test
In the end, if you developed a good long-term investment strategy, staying the course should be the best response as it was in the 2008 financial crisis.
Let me know if you want to talk and I hope you and your family stay healthy!
- Steven
