The Prudent Retiree - What's Going On Part VI

No music. The radio is turned off. You all know that the market has plummeted in the past month. The question is what to do now. Prudent Retiree shares your fears about Coronavirus and how it will impact our economy. Fear of the unknown is a powerful force.  

We want to clearly state our belief—there is now more risk getting out of the market than there is staying invested. Coronavirus is real, it’s impact on the economy is real, but we don’t believe it will become the Black Plague or Spanish Influenza. This is temporary.  

Financial people often play the game “woulda, shoulda, coulda.” Hindsight always tells what we should have done. We can only deal with what to do right now. The market has dropped, it is frightening and our previously strong economy will slow down. The damage has been done. Prudent Retiree hates Wall Street clichés, but one is appropriate in the moment. You need to stay the course because the market will come back. That is what risk management dictates at this time. The risk of selling out is greater than the risk of staying in.     

The wisest action for those invested is to maintain your allocations. What’s going on is bad, but it won’t last.     

Here at Horseman Group, we strive to provide you with the highest possible level of customer service. Feel free to reach us at 314.692.7842 with any questions regarding your investments, risk management, or retirement.   

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Horseman Group – 3 CityPlace Drive - Suite 290 – St. Louis, MO 63141 – 314.692.7842 – www.horsemangroup.com  

Securities and advisory services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC.  The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results.

Investing involves risk including loss of principal. No strategy assures success or protects against loss.