Markets are facing the brunt of the corona pandemic. Demands have been destructed, prices have started to fall, and volatility has set in. The lockdown has resulted in a slowdown of economic activity resulting in dire consequences on businesses, working professionals and average jobs.
Many are uncertain and somewhat circumspect about their future earnings. Buying, spending and investing behaviours are having to be revisited so that one can smoothly transition through these unpredictable times.
So how does one navigate through it all? Here we give you a few words of advice:
Be Mindful of your Wants
Though unpleasant, young couples are advised to prune their shopping carts as a way of being more mindful about their wish lists. The more we have a control on our wants, the more we can save our money from flowing into uncharted routes.
Never Sell in Panic
Do not blame the market for your panic-stricken decisions. Your investment portfolio was created against the backdrop of a long term horizon. Do not be in a hurry to find an exit when the market hits rock bottom. Instead, ensure that your portfolio has a good risk appetite.
Have a Strategy
Instead of surrendering to an economic emergency, have a long-term strategy in place, based on your investment horizons, goal priorities and risk tolerance levels.
Expand your Horizons
One of the wisest things you could do to protect your portfolio from volatility and down markets is diversification. With interest rates at an all-time low, it would make sense now more than ever to invest in longer duration funds that will witness steady appreciation over the coming months.
Receive some Help!
There are plenty of leading lenders in the market out there. All you need to do is identify them, compare their rates and borrow from the right source. You could take the help of financial experts to help you make informed decisions.
Un-complicate Life!
Find yourself a financial advisor who will make life easy for you and your clients by offering support and peace of mind through unique and innovative products and services, weekly updates and summaries.
Unpredictable market conditions can wreak havoc, but they also give us ample time to ponder over and analyse our risk tolerance. Even riskier is the thought of making bad choices and decisions when the markets are unfavourable. That’s why you should turn to experts, like us.
GPS Finance is an independent broker that deals with all major and leading private lenders, offering expert financial advice for individuals and organisations. Get in touch with us and we shall help you navigate through volatile times!
