6 Important Questions to Ask About Your Financial Plan During the COVID-19 Crisis
The market of early 2020 and the market of today look very different. As a result of COVID-19’s impact, the S&P 500 declined 20% in the first quarter of the year—its biggest loss since the Great Recession (2008). Meanwhile, the Dow Jones Industrial Average dropped 23% in that same period—its largest slide since Black Monday (1987).
Seeing this volatility makes many investors feel the need to take action. While the best plan is to follow the financial plan you already have in place (which should have been created with a downturn like this in mind), there are some thoughtful questions you can ask to help strengthen your finances during this trying time.
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The opinions expressed in the article are those of the author and should not be construed as specific investment advice. All information is believed to be from reliable sources, however, no representation is made to its completeness or accuracy. All economic and performance information is historical and not indicative of future results. The S&P 500 Index is a broad based unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Indices are unmanaged and do not incur fees. One cannot directly invest in an index.
Neither Wealth Impact Partners, Valmark Securities nor its affiliates and/or its employees/agents/registered representatives offer legal or tax advice. Please seek independent advice, specific to your situation, from a qualified legal/tax professional.
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