A MESSAGE FROM MFA REGARDING COVID-19 AND THE STOCK MARKET
Staying the Course.
With the recent equity and bond mark volatility caused by the economic uncertainty due to the COVID-19 virus, it good to ask yourself these questions which will help define what action or non-action to consider with your investments.
- Why do I feel the way I do?
- When will I need my assets?
- How does my portfolio look today based on what I think it looks like?
The market is always on the move. When it’s up, most everyone is happy. When it drops, it can be easy to overreact. Fear can tempt even the most disciplined of investors to make snap decisions to pull out of struggling investments. Doing so may undermine your long-term success; it’s impossible to know precisely when to reinvest after a downturn, particularly one that is short-lived.
We all hope that this downturn is short-lived. It can’t be predicted exactly what will happen in the short term but I can look at history and get an indication of how markets responded. Not all market downturns are the same but they do have similarities. The US economy is one of the strongest in the world and this downturn is different than that in 2008-2009. As a result, it should be quicker to recover (no promises).
Investing is a long-term exercise and requires discipline to avoid the pitfalls of fear and greed. We are here to stand with you through this time of uncertainly. Please feel free to call our office if you feel the need to talk.
Midtown Financial Advisors, LLC
Midtown Financial Advisors consists of 5 managing partners, 9 advisors, and 3 specialists. The culture of our firm is one of teamwork and collaboration. Our firm has a vast array of experience in our industry and we are constantly leveraging that experience for the benefit of our clients and our community.Learn More
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