The personal finance expert lays out three financial 'warrior moves' you should be making right now as the U.S. ramps up its fight against coronavirus.
, you likely have at least half of your investment portfolio invested in bonds — likely more — and a bucket of cash. Today’s markets are exactly why you have all that money in bonds and cash. Those accounts are standing strong. As a calming exercise, add up the balances of this “safe” money and then calculate how many months of essential living expenses it could cover. Probably more than a few years, right? And if you are collecting Social Security retirement benefits, that’s steady income.
My hope is that you won’t feel the need to sell stocks right now. Give your stocks time to recover. Could stocks keep going down? Of course. But since World War II, we have had 12 bear markets. The average loss was around 35%, and though stocks fell for an average of a bit more than a year, they typically had made back their losses in another two years and then rallied to new highs. Patience will pay off.
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