As we write this the United Kingdom, and large chunks of the rest of the World, are being stopped in their tracks by the Coronavirus.
Even the most gifted analysts could not have predicted this – it feels more like a movie than reality.
What does this mean for everyone?
Well, sadly, not all businesses are going to survive. Business continuity plans are unlikely to be robust enough for everyone to have prepared.
Equally, with retailers and the leisure industry on lockdown, and no end date for that changing, we have no idea if they can weather the storm.
And, specifically for you?
If you have a pension or investments, you are probably looking at the stock market, and recoiling in horror.
In just a few days and weeks, a huge number of points has dropped off the FTSE 100, and that is the same for most of the World’s economy.
However, we would urge you not to start panicking, and moving investments and funds around, or selling off shares.
Think of investing like sailing – ride the waves – sometimes they are big and sometimes they are small. You go up and down, as the markets do.
The reality is that right now, the markets are very volatile. But thinking and acting short term will only hurt your money more.
As always, things will level out, and the markets will improve. Yes, it is low right now, but it will go up again.
Be reassured that we are constantly tracking the performance of investments. If you are one of our clients we will be reaching out to you, if we believe you do need to make any changes.
But, for the vast majority of our clients, the advice is hold your nerve. This too will pass, and hopefully we will all get to enjoy good times again.
Right now, the main focus for everybody in the country is following the lockdown rules, and remaining fit and healthy. So, please stay safe.
If you would like specific advice about your finances, please contact us on 01344 875 310 – we’d be delighted to help.