I am sure all of you are hearing various news and opinions about today’s economic environment. Last week, I posted two opinions of contributors to CGO Wealth Management, LLC. I respect both of these contributors and acknowledge they had two very different approaches.
I do not know when COVID-19 will go away. The Polio virus, which FDR was afflicted with, was around for over 30 years before Jonas Salk came up with a cure in the early 1960s.
Having said that, I do not believe this virus will take that long to come up with a cure or vaccination. On the whole, we are smarter and more aggressive when it comes to science and technology, therefore I believe this virus will be resolved much more quickly. While I cannot speculate on the timing of when COVID-19 will lessen it’s impact on our global health, I believe we are getting our arms around it as a society.
Although I do not claim to be an expert in science or medical topics, I have spent much of my life becoming an expert on financial topics.
Here is what I know to be true — NEVER AGRUE WITH THE FED, the federal government, or oil prices. Right now, each one of these are your friend.
Remember – the market is a mechanism of things to come, not what was previously or what currently is.
We are already 25% off the lows and the news is bad every day. The market looks at what the wall street journal will tell us 6 months from now.
My advice to all of you – spend your time and energy to lock in today, instead of trying to predict the end of the virus.
Do not save a few dollars today and tax your future. In other words – if you have $1,000 today, you should invest it, instead of saving. With a smart investment, in 6 months, that money could be worth 20-30% more while your savings only maintained your $1,000.
Make an appointment with me today. Now is the time to review your plan, your investments, your strategy. Don’t bet against the big three. You will miss out.
Let’s get you locked in,