In our overwhelmed Coronavirus state of mind, we know your primary concern is to keep yourself and your family safe and healthy. However, we realize you may also be concerned about your portfolio.
Even though the volatility in the stock market creates fear, we know this type of fear has happened before and history tells us that through time it has been better to keep your money invested. Once you sell at such low prices as the stock shares are now, you have made the loss real. If you stay positioned as you are, in time, you will see that the losses you had during this time were on paper and not in your pocket.
The conversations you have had with us have guided your portfolio choices and risk tolerance. If you feel you wish to make changes to that guidance, please contact us.
We are open and available to you during this time, as we are considered an ‘essential’ business practice. If you have questions or concerns and don’t want to come into the office, we can have meetings through a program called “Zoom” where you can talk to us face to face from where you are, provided your device has a camera. There are also phone and email conversations available at your request.
In good news, please note that the IRS has changed the filing date for taxes from April 15th to July 15th for this year. This deadline extension also applies to IRA contributions. “The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.”
We are thinking of you and hope the days are bringing you creative ways to move through this pandemic!
As always, please contact us with any questions you do have.
Your Team at Hansen’s Advisory