COVID-19 Impact on investments and staying focused on long term during the turmoil?​

It would be an understatement to say that COVID-19 has had serious and far reaching impact on society and stock market alike. We have seen tremendous market volatility over the last few months.

The key is to stay focused on the long term. Here is some information from Manulife Financial that may help.

Investing during volatile times can challenge your discipline and commitment, but there are principles for your investment strategy that can help ease your mind and keep you focused on the long term:

• Diversify across various economies, businesses, countries, and popular investment classes to help spread risk, remain more consistent, and reduce potential for underperforming assets to impact your portfolio.
   
• Stay disciplined and committed to your long-term investment plan - don't ride the emotional rollercoaster.
   
• Don't jump ship. The difference between investment success and disappointment can boil down to a few days of being in or out of the markets.
   
• Take a long-term perspective. Accept that markets rise and fall but, over time, markets have always moved higher.
   
• Turn market volatility into your advantage. By investing a specific amount at regular intervals, dollar-cost averaging can help you buy more units of an investment at lower prices and fewer at higher prices. This helps take the worry out of making a single lump- sum investment at the wrong time.

In times of unusual volatility, you may sometimes feel an impulse, large or small, to push the panic button. But panicking often leads to wrong decisions. Talk to us. We can help you determine how to weather the turbulence - it's what we do.

Should you wish to review or second opinion on your current insurance and investments feel free to contact me.