That’s the subject of today’s Advanced Financials weekly update.
This has been a tough week for the American people. One in ten of us are now out of work. Every 10 seconds around hundreds of us lose our jobs. Anxieties are high. Government checks begin arriving on Wednesday.... But will it be enough? Small business loans... will that be enough either?
May 1st is a long way away. We have some serious concerns about how much longer our country can stay this way. We just have to stay in place, stay safe and look for light at the end of the tunnel.
The task force sees positive signs ahead. There is good news out there. You just have to look for it.
- The virus is slowing down in Europe.
- Hospital admissions are way down in New York.
- Everyone in America who has needed a ventilator has gotten a ventilator.
- The governor of New York Andrew Cuomo said that he had plenty of masks and plenty of beds and the stock market had its best week in over 50 years. So where does that leave the average American?
Let’s invite our Guests Brian Walker and Edward Schuh to help us better understand what we can do to make the most of our current situation.
Edward Schuh’s Analysis of the current volatility:
Even with the strongest week of stock market performance in 50 years, we are still experiencing twice the average percentage of market volatility in history. Edward warns investors about being overly optimistic about investing in high risk stocks.
Brian Walker 4-step strategy for weathering the storm:
- Stay the course. Stay invested. Don’t move to accounts that don’t offer interest.
- Reevaluate your current investment strategy
- Continue contributing to your 401(k)
- Be cautious about investing extra liquid cash in risky stocks.