Here For You In the Midst of COVID-19
/My biggest hope for you right now is that you are safe, healthy, and focused on what’s important in your life. It’s been a crazy day with the Dow down 13% and the S&P 500 down 12%, which has followed a crazy couple of weeks as we all deal with our COVID-19 pandemic. As members of the Charisse Says community, I want to support you in the ways that you need it most. In the meanwhile, I am praying for you, and sending you my warmest thoughts.
I understand that it’s been quite unsettling with everything changing so quickly, especially as it relates to your money and wealth pursuits. Trust me, I too have been rattled a bit by what’s transpired and have intentionally tried to channel my inner peace on a daily basis. I encourage you to find your own way to calm your spirit.
Over the last week in particular, I appreciate members of this community reaching out. Thus far, I’ve received the following questions:
What should I do with my retirement accounts?
Is now a good time to buy stocks?
Should I consider leaving my job right now? How do I protect myself if I lose my job?
What do you recommend on 3-4 stocks to buy? How much should I buy, and when?
Should I try to refinance my mortgage with rates where they are?
My philosophy is pretty simple during this time: (1) Try to have a long-term view, (2) Evaluate the opportunities that you have in front of you that you can take advantage of, and why are you doing so (3) Assess whether you are financially ready to seize the moment, and (4) Figure out whether you need to pause or take action now.
Yesterday, I spent time re-watching Warren Buffett’s interview with CNBC, which he gave in front of a down market three weeks ago. It’s clearly still relevant today and I encourage you to watch the first 20 minutes. It’s worth your time as his focus is on - using down markets as opportunities to buy good companies. As you know, I am a big Buffett fan and his words are wise.
In the coming days, I want to hear if you have any other questions. I have been addressing many of these as they’ve come up, and I want to ensure that I can address your needs. I will be sending out updates as appropriate.
I’ve just barely returned from a vacation without any major drama, and for that, I am thankful. I was able to hide out for a few days and reflect on what’s truly important in my life as I celebrated another year of life. As the last few days have shown us, cherish these moments and please be safe.
