With U.S. and international stocks in flux thanks to the coronavirus pandemic, it’s easy to assume that investing your money right now isn’t the brightest idea. However, as with any recession, certified financial planners say there are still solid opportunities to invest some cash — as long as you’re confident you won’t need it in the short-term. (For short-term needs, set aside an emergency fund in a high-interest savings account).
“There is a huge certainty, which is valid, that coronavirus is going to bring the US economy to a halt,” said Larry Sprung, CFP, Mitlin Financial‘s president and lead wealth manager. “A tremendous amount of revenue is being lost in specific industries and it has a cascading effect. I think the fear factor is really feeding fuel to the fire and is causing people and institutions to panic-sell and adding further downward pressure to the market.”
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