The term the “new normal” is being heard everywhere. On March 11, just a few days after the coronavirus was declared a pandemic, the Dow took the steepest decline since 1987. In 1987, this dip in the Dow was referred to as Black Monday. Things continued their downward spiral. By the end of March, the market had lost over 35 percent of its value. Obviously, people were panicking. They were worried about their financial future. It was then that many decided to find an investment advisor.
The coronavirus has forever changed the way finances will be viewed. Companies, commodities, and other investments that seemed to be a safe bet are now viewed as questionable. Conversely, investment vehicles like cryptocurrency that were thought to be only for those who were on the extreme edge of investing are now starting to find their way into the mainstream. This means that individuals who have decades of experience investing on their own now find their experience to be virtually worthless. This is why they have decided to find an investment advisor.
The coronavirus pandemic means that unemployment is on the rise. Jobs are being lost. Bonuses and salaries are being cut. It seems like these cuts and job losses have not reached their bottom yet. It is an emotional time. People are making financial decisions ruled by emotion as opposed to levelheaded thinking. However levelheaded thinking is what will be needed if a person is to successfully navigate the new normal.
Learn how FinancialAdvisors.com is helping people navigate the new normal today.
