The social distancing and stay-at-home orders introduced by the coronavirus have led many of us to feel isolated. Still, we’ve fought back through social media and “virtual” gatherings. But when you’re dealing with the financial effects of the virus and you’re investing alone, you could encounter some problems that may prove costly.
For example, you could respond to the volatile market by selling investments when their price is down – one of the biggest mistakes in investing.
However, if you work with a financial advisor who has helped you create a strategy that’s based on your risk tolerance and goals, you’re far less likely to overreact to extreme market conditions.
Also, a financial advisor can help you keep things in perspective. While your investments may have lost value, it’s important to realize that you may not need to cash them out for decades, by which time their value may have increased substantially.
The road to your financial goals is a long one, with many twists and turns. So you might like to have some experienced company along the way.
If you have any questions please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.