From one of the strongest economies the U.S. has ever seen, to shuttered doors across the country resulting in the fastest recession on record, the COVID-19 global pandemic has changed our way of life in just a few short months. Commerce essentially stopped as people across the country “sheltered in place” to “flatten the curve.” Unemployment levels hit record highs with an estimated thirty million out of work in just a few short weeks. On the other hand, rapid advances in vaccination trials and treatment protocols for this novel disease and unprecedented stimulus from the Federal Reserve Bank, U.S. Treasury Department, and U.S. Congress totaling near $7 trillion have seemingly stabilized the financial markets for now. The event shock is behind us at this point, COVID-19 is real, and it is going to be here for many more months. Thus, many investor worries are starting to mount with looming concerns of a second virus wave, unemployment rising again, pending election, trade relations, civil unrest, and the scale of our remaining post-pandemic small and medium sized businesses. For these reasons, we offer seven strategies you should consider implementing with your investments in response to COVID-19.
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Jon Garlow, CPWA®
Advisor, Founding Partner