WASHINGTON (WDVM) — Should people be investing during a pandemic? This is a question many are curious about.
Financial advisors say investing is important at all times but you should seek financial advice from advisors before making investments especially during the current climate.
If you have a healthy emergency fund and you’ve thought carefully about your financial goals, financial analysts say you may consider investing.
However, the pandemic has made things challenging so it is crucial to first invest in yourself and family then think about putting any additional money into an investment specifically one that is designed to grow over long terms.
Financial advisors say the stock market is constantly changing and at a time like this people should seek advice from advisors to ensure they are making the right investments.
“Everyone should consider working with an advisor who understands them, and can help them to make great decisions, and it should go beyond simply investing. A great advisor can help you with your planning, your estate needs, and tax needs,” said Joe Duran, Head of Goldman Sachs Personal Financial Management.
According to Forbes you should consider the following when investing during a pandemic.
1. Consider adding precious metals to your 401(k)/IRA.
Gold, silver, and other precious metals bullion are among the best safe-haven assets to invest in during times of instability and uncertainty.
2. Consider firearm stocks.
Investing in gun stocks certainly isn’t for everyone, but it can present an opportunity to grow your wealth given that crises and uncertainty can prompt firearm stock growth.
3. Reconsider emerging markets.
A McKinsey Global Institute report found that seven emerging (i.e., not fully developed) economies consistently outperformed U.S. growth in the period from 1965 to 2016.
4. Consider tech stocks.
With much of the world’s workforce working from home, equities in the consumer tech and high-tech sectors have performed exceptionally well since the outbreak of COVID-19.
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