The Covid-19 crisis is a long way from over. But during this current calm, there are some steps that can be taken to help protect and grow your finances
One thing most Americans have realized during the Covid-19 crisis is the importance of liquidity. While many Americans are not spending as much as they previously were on day-to-day expenses, they do require liquidity in order to cover some of the bigger items in their financial lives.
For investors focused on the long term, this provides perspective. If there are market pullbacks, you want to be buying into your portfolio. Since it is incredibly difficult to out think the market, this may be a time for a more traditional financial planning approach. For many Americans, this could be as simple as dollar cost averaging into a target retirement fund. People with larger portfolios may want to decide each month which funds to put money. Either way, you want to be sure you are sticking to your overall asset allocation and buying in on a regular basis. The Covid-19 crisis is a health pandemic that will impact people differently.
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