COVID-19 has changed the way that Americans shop and travel, impacting our spending habits indefinitely. With stores, hotels, and restaurants closed or at limited capacity, many choose to stay at home and purchase online or locally, helping to support their local small businesses. The positive impact of working from home, virtual meetings, and happy hours, on-line fitness classes, and being at home is that our consumption habits have changed. Read hear to learn why you should buy local and travel local.
As areas of the U.S. start to lift COVID-19 restrictions, Americans are starting to see the impact of increasing prices at the supermarket and the start of inflation. Here is the recommended steps toward protecting your financial future. While the CARES Act provided a one-time payment to individuals and for business stimulus, it will not solve our future economic problems since government action always comes with a price.
The sequence of returns impacts investors when they are either adding to or withdrawing money from their retirement portfolio, which can create risk depending on the sequence and the market conditions at the time. If an investor is not doing either, then there is no sequence of returns risk.
In today’s volatile market environment, investors seeking safety inside your portfolio must consider how any investment fits into their investment strategy. All investments have their place in retirement planning, but only if suitable and a part of an overall financial strategy using multiple types of investments, insurance products, and accounts. While investing is not without risk, there are critical elements to consider when building a portfolio:
Communicating during times of uncertainty, with others, and your financial professional can be beneficial during any life-altering or world-changing event. For some, survival is their only plan when their financial resources are depleting. Others are more fortunate, and their finances are holding while they continue to work. But for most, dealing with COVID-19 and the aftermath can create a fog of uncertainty.