Why Invest During a Recession?
Choosing to invest during a market downturn can make a lot of sense - asset prices have fallen hard, meaning those willing to invest now can likely get bonds, stocks, real estate and more for a fraction of what those assets are normally worth.
Those who were looking to cash out this quarter are in a difficult place with the market drop. But those who are still years, or even decades, away from cashing out what’s in their portfolio may be the ones who can really benefit from this downturn in the market (this is often the case for young investors just starting to build and diversify their portfolio). They have the time needed to watch the market recover and their bargain-priced assets slowly regain their value.
Consideration #1: Is My Emergency Fund Fully Stocked?
Consideration #2: Would It Be Better to Pay off My Debts?
Consideration #3: Am I Rushing Into This?
Consideration #4: Am I Emotionally Prepared to Watch My Money Drop?
Consideration #5: Am I Still Following My Normal Investment Procedures?
With all that is going on with Coronavirus, I've been getting a lot of questions about Life and Disability Insurance and the process for getting it. I am including below a few quick facts about the life insurance process. If you have any questions, feel free to reach out, no strings attached. This is information I think everyone should have during these trying times.
What do you want to change about your spending and saving habits? Let’s see if your resolutions are in sync with these top five for 2020.
Resolution #1: Save More Money Each Month
Resolution #2: Reduce Monthly Spending
Resolution #3: Pay off Credit Card Debt
Resolution #4: Build an Emergency Fund
Resolution #5: Save More for Retirement
FIRE stands for “Financial Independence, Retire Early.” This program, inspired by Vicki Robin’s book “Your Money or Your Life,” is built on the premise of saving more money month-to-month than traditional retirement planning and utilizing low-fee investment options to be able to afford retirement earlier than the traditional age.