What strange times we live in. Ordered by the Government to work from home while keyworkers keep the country going and Scientists look for ways to save us.
Never in our lifetime have we experienced something this catastrophic to create such uncertainty.
With so many questions around the future, here’s what we know right now about finances…
What about our money?
Investment funds worldwide have dropped dramatically (although they are up today as I write). Now still looks like a good time to buy and whilst some of my clients are looking to capitalise and many ‘wishing’ they could, there are a couple who feel the shock is too much and are switching to a cash fund.
Funds and stock markets will have big daily variances. The UK and USA have just had one of their biggest daily increases. Funds are still likely to go down again though.
Fund Managers can make money in a falling market as well as a rising one by agreeing to buy or sell certain shares for a fixed price sometime in the near future. An investment is usually for a long time and what really matters is what went in, and what it’s worth when you need it. Rather like a car journey, it’s what time you left and what time you arrive. The traffic lights, road works and diversions are annoying and can be unsettling but arriving on time is what matters.
Our investment team are working really hard in changing portfolios, when markets demand, and have done a few this month to help shield our clients from most of the drop. Now it’s about being bold and holding on until the end if you can.
In the meantime, I hope everyone who reads my articles, and those close to them, are healthy and remain safe.
It costs nothing to talk to me and may cost your future self a lot more if you don’t, call me on 01480 869466.
We currently have telephone and video call appointments available.