Financial markets are in free fall, the UK and other countries are on lockdown, and inevitably, after initial measures to make sure you and your family are safe and taking as much precaution as is possible, people thoughts are turning to their finances. More specifically – what should I do with my money?! Should you leave your investments alone to fend for themselves against the wild swings and sell offs of the stock market? Or should you consider making moves to potentially pull some of your investments and hold it until order is restored?
Leave Your Investments Where They Are
It can be tough to sit and watch as large percentages of your investment is wiped out. However time and again we see that following a crash, the stockmarket always recovers. The advice from the most successful investors in history is largely this – that you cant time the market and you should continue to follow a well thought out investing strategy, regardless of the current market situation.
Continue to Invest for the Long-Term
The worst time to invest is never, the second worst time to invest is at the peak. No one truly knows what the stock market is going to do from one day to the next. However as mentioned, throughout history, generally a downturn is followed by an upturn.
“The best chance to deploy capital is when things are going down.”
Warren BuffettTop Investor of All Time
If you have a calculated investment strategy for the long term, there is no reason not to continue investing just because things are looking bleak at this moment. As and when the COVID-19 situation passes. Things are likely to recover. And just as we have had to ride this roller coaster down the way, you better be sure you are ready to ride that wave back up!
Invest in Costco
I’ve no idea why people think toilet roll is going to be the miracle cure for the coronavirus but if there’s no loo roll left for you to spend your money on then you may as well put it somewhere sensible and make a profit. Costco is all about bulk buying and the latest figures from the company gave insight into the effect that the coronavirus has had on its sales: Traffic increased 11.7% year over year in February, with a 9% increase in the US. Panic on COVID-19 has driven customers to the store to prepare (albeit they definitely aren’t clear on what they are preparing for!).
Take Advantage of Free Money
If you are thinking now might be a good time to try your hand at stock trading then the best place to start is with low entry cost, fee free trading apps such as Freetrade or Trading 212.
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