It’s natural to be confused by the chaos of the markets lately. It's been more than a decade since we experienced this type of volatility. The equity market, in particular, has seen tremendous intraday upswings and downswings almost daily.
Keep in mind that every investor and business owner feels hesitant right now. When the future is unknown, emotions naturally are elevated. However, if you act on those emotions and make rash decisions, you might regret it in the long run. At MRK Financial, our priority is to support and guide you through times like this. We remain informed and calm yet cautious. It's our job to stay focused on your long-term financial plan, so you can make progress toward your life's biggest goals.
There will always be things we can’t control. Currently, the uncertainty about the seriousness of COVID-19 and severity it will have on the economy has most people feeling nervous. This – in addition to the oil price war started by Russia and Saudi Arabia – is hitting close to home for many of us. Interest rates are at or near their lowest level they’ve ever been. And while we can't control these external factors, we can control our commitment to the priorities of your plan.
It’s important that we remain long-term, goal-focused investors. We should only make changes to portfolios when a financial goals have changed. While most plans will remain the same, some external factors could prompt updates depending on your unique situation.
As we watch for the full impact of recent external influences, there are a few things you can do:
Turn off the news when it feels overwhelming. It's one thing to be informed; it's another thing to obsess over updates and foster anxiety. Fear is a powerful motivator, but it rarely produces a positive response.
Reach out if you’re feeling panicked. We’re here to help you understand and achieve your goals. We're happy to be a sounding board, voice of reason and calm port in the storm. Don't hesitate to call our team if you're feeling concerned.