I typically write my blog posts about a week in advance. So, when I turned the page on my electronic calendar and realized last week that my very next post would fall on April Fools’ day, I said to myself - this is simply a bad joke.
Yesterday was the end of what some would say was the most volatile period of time during the shortest period of time in the stock markets’ history. There are a lot of different measures that we could use to make measurements – Unemployment, the Dow, the S and P, the Nasdaq, the bond market. Take your pick. Percentages are irrelevant, since they change day by day and moment by moment.
During this time, people have become more focused on things like their pantries – do they have pasta, rice, canned food and toilet paper. We’ve spent our time watching panic television and when we aren’t quarantined to our homes, we are required to distance ourselves from other human beings.
Yesterday was the last day of the first business quarter of this year, which means 401k, IRA, and other investment statements will be delivered to your desktop or mail box soon. These statements will contain more bad news; and you will ask when will this all end?
Typically, our younger clients will be down the most, since they have more time and as a group are invested the most aggressive. Yet, our middle-age clients will see pain in their accounts, as well. Those older clients with more conservative portfolios and those clients of ours with some stop-loss elements in the registered-investment advisory accounts should see the least decreases; but it’s safe to say that decreases will be expected across the board.
Those clients who have their safe money in the cash values of whole life insurance contracts will see no reduced values. This will be the shining star in the middle of this most recent financial storm. If you don’t know how these contract work, it’s time to schedule an appointment with our office.
So where do we go from here? I can best describe this pandemic as I would any disaster or emergency - In the past, there has always been a beginning, a middle and an end. I would expect this moment in history to be no different – a beginning, a middle and an end; and right now, we’re somewhere in the middle.
Many companies have needed to close-down during this time. Our office is working remotely, yet we’re probably working more hours, more intensely than ever; and we will continue to do so, until this time of volatility in our lives passes.
I am proud of our team. I am proud of the business partners that we work with throughout the country. Please know that we are engaged and have all hands-on deck.
I can’t tell you to simply throw away your investment statements which will be arriving soon to your home; but for your own mental health, that might be the wisest suggestion. Just remember my words: There is a beginning, a middle and an end. This too, will pass.
Stay focused on today and allow us to guide you toward tomorrow.
Thank you, and be well.
[This information has been gathered from sources believed to be reliable, but Brooklight Place Securities, Inc. cannot guarantee the accuracy of this information or the reliability of these sources. This information in this Blog is not intended as legal or tax advice, consult your attorney or tax advisor regarding such matters.]