Emotions are understandably high now as we deal with the COVID-19 pandemic. These days, the stock market is up and down, employment situations are becoming more shaky, and times can be hard as we physically distance. But if we can keep our emotions out of investing, that change can help us in that arena at least.
I’v been busy writing and editing the last few weeks, with a major focus on wellness and personal finance. As we continue to deal with the ongoing coronavirus pandemic, and watch the news from home, things can be difficult. Which is why I’ve been making an effort to deliver positive news as I can.
Please watch the video to see more on why we shouldn’t panic about investments now (including our retirement accounts and others), even though we’re in turbulent times. I think points two and three—on keeping emotions out of investing and understanding that the market will turn around—are especially key to remember.
I was scheduled to travel to Germany from DC during the first week of March and had been looking forward to the two-week trip. I thought the European travel would give me time to see the sights, write, and rest.
But then news of the spreading coronavirus and its fallout began to get worse, and I read about travel restrictions, quarantines, illness, and deaths. It was sobering — and really sad. I realized I needed to cancel my trip. In the days that followed, I watched the markets fall and saw worldwide news continue to worsen.
But even though reports have been rough, I’m not panicking. And even though I’ve changed my travel and social plans to be cautious, I haven’t changed my investment plans.
I’ve been writing about personal finance quite a bit lately, as the coronavirus pandemic also has had a real effect on our money. In this story for Business Insider, I revealed the three reasons why I’m leaving my investments as is.
The short version: I can stick with my investment plans because I have savings, I trust the market will recover, and I know the market isn’t the place to be emotional.
Check out the full story for the details, including info on how to avoid being an emotional investor—and why I think this market situation will change.
And feel free to pop onto on my Instagram page to tell me what you think about this topic. No matter what, I know this time is tough. Hope you are hanging in there as much as you can.