What to do Financially about Coronavirus

We are all currently going through a weird, crazy, stressful time for many varying reasons. Now is not the time to panic and drastically change how we are approaching our finances. I personally am continuing to act as I did before, but maybe invest more than usual because prices are lower. I personally do not believe in the constant watching of the market and buying/selling often. Just contribute consistent amounts over time and stay invested, then you will be golden.

We have made it through many market crashes/corrections and we will eventually come out of this as well. I heard a gentleman on a Podcast I listen to compare this to a hurricane. He said something along the lines of “When a hurricane hits, you don’t go out to try and prepare for the Hurricane, you have to wait it out.” He is essentially saying the preparation needs to be done before the market crash so you are ready. Market crashes/corrections always happen and we need to expect them to. So when this is all over, then you can reassess your finances and prepare better for next time.

*Disclaimer: I am not a licensed financial professional.

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