Coronavirus (COVID-19) & the Market
Update (3/26): Listen to our latest thoughts here.
Headlines about the Coronavirus Pandemic and the stock market drop can certainly get your heart racing and create all kinds of questions.
Should I change my investments? Should I retire later? Should I go on my spring break trip?
Two of our core beliefs are: "Control what you can control, protect what you can't" and "plan for success, prepare for failure."
You can't predict a 'black swan' like coronavirus or prevent the stock market from dropping, but you can take steps ahead of time, and in these moments to take control where you can.
We believe strongly in having a process that focuses on areas you can control like how much you spend, when you retire, how you take your social security and pension, and managing your tax situation.
When it comes to the stock market, you can't control the ups and downs, but you can control how well you diversify ahead of time, how much money you take out of the stock market and how you diversify your risk in the stock market.
When it comes to coronavirus, or anything that's like the flu & influenza please focus on things you can control like your nutrition, handwashing and staying away from people when you're sick.
It's also important to go to reputable resources. Here's a few places we trust:
Cleveland Clinic: 3 vitamins that boost your immune system
Waukesha County Public Health Department
CDC Coronavirus (COVID-19) page
Stay safe, eat your fruits & veggies, take a walk outside on a sunny day and make sure to put a plan in place for your retirement, taxes and investments before you make any changes.
You get one shot at retirement. Make it a great one!
Keil Financial Partners
15350 W National Ave., Ste 214
New Berlin, WI 53151
Please send us a message, call 262-333-8353 with questions or check out our resources, podcasts and blogs below.
This material is provided for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The views and strategies described may not be suitable for all investors. They also do not include all fees or expenses that may be incurred by investing in specific products. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. You cannot invest directly in an index. The opinions expressed are subject to change as subsequent conditions vary. Advisory services offered through Thrivent Advisor Network, LLC. Although diversification is not a guarantee against loss, it can be an effective strategy to help manage investment risk.