SELLING COULD BE THE WORST THING TO DO
The COVID-19 pandemic has caused global stock market volatility causing concern about the impact on pensions, savings and investments. We completely understand that many of our clients may be concerned about their financial position and what further affects we may see as coronavirus impacts our everyday lives.
Please be assured we are closely monitoring the situation and the impact this is having on the markets and will keep you as up to date as we can. Selling in a period of volatility if markets have fallen could be the worst thing to do. Panic-selling is often a first reaction to a drop in the value of funds. It is important to remember why you chose to invest originally, think long term and stay the course.
Instead you could consider if there is an opportunity to re-balance portfolios, or for some to acquire additional investment opportunities while prices are lower.
For those that hold sizeable investments, or those concerned about the impact on pension income, we urge you not to panic. Your pension and investments should be seen as long-term commitments, and this could be the worst time to disinvest. We understand for some this is unnerving especially if you are at or nearing retirement.
The stock market volatility we’ve seen recently shouldn’t lead to panic. It’s important not to obsessively watch the markets, history shows markets can rise quickly from sudden falls. It is important not to panic. Please speak to your adviser to talk through these concerns instead.
Finally beware of scammers, if you are approached to move or sell your investments think twice and contact us immediately.