COVID – 19 – “We’ll Do This Together, Won’t We”. This may have a different meaning for folks that are managing a household and the household finances alone. As I’ve read articles and social media posts throughout this time, I notice that I am starting to see posts such as “for one person it may be a vacation, for another it may be hardship”.
For many single women, it relieves stress and pressure to have a plan in place – a plan that addresses the worst case scenario. If you can make it through the worst case, you can make it through anything, right? There is an interesting article by Investment News – “Many Investors are Seeking Out Financial Advice for the 1st Time”, but still approximately 85% of Americans don’t have a financial advisor. CLICK HERE FOR ARTICLE If you ask me, it’s because it’s hard to know what to look for in an advisor, hard to understand this industry and where your advisor fits in, how to know their advice is solid and not fun to feel like someone is trying to sell you something.
Having a financial plan in place and what your adviser is going to do when the market has volatility and negative returns and what YOU are going to do. Knowing this in advance is the best way to guard against fear and acting on emotion and taking risks in areas where you think you are playing safe.
Reach out to us, let us educate you about our industry, where we fit in and where you fit in, and show you how we have handled the COVID – 19 situation with our clients, both regarding their financial plans and investments. Personally, I am so proud of my clients; we stuck to our plans and are seeing it through together.
Best,
Bonnie Moseley CFP®
Wealth Adviser for IDA