As an investor, it can be tempting to get caught up in daily news headlines. From election news to vaccine updates, these headlines can lead to additional volatility in the markets. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you ignore short-term volatility and focus on your long-term vision.
As you know, investing is a process based on your goals, time horizon, and risk tolerance. Interestingly enough, it’s also a process that may help you prepare for life’s financial challenges.
For example, did you know that only 44 percent of workers have estimated how much income they would need in retirement? What’s more, only 36 percent have calculated how much money they would need to cover healthcare expenses.1
Creating a financial strategy means thinking about the bigger picture, including a variety of issues like monthly income needs, handling unexpected expenses, and preparing for healthcare costs. People who take a “do-it-yourself” approach can quickly find themselves overwhelmed by all the variables they need to consider.
If a current event or vaccine headline has caused you to reconsider your financial strategy, please give us a call. We offer individualized financial planning to people in all stages of life. Sometimes, a newsworthy event can require a new approach. But many times, it may just be a “speed bump,” a momentary blip that’s already factored into your long-term vision.
For additional insights and resources, be sure to sign up for our Weekly Market Commentary, follow our YouTube channel where we regularly post our Epic Market Minute videos, follow us on LinkedIn, or like us on Facebook. And as always, please don’t hesitate to reach out to a dedicated service professional at Epic Capital.
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At this time last year, it was still unknown that a deadly global pandemic was on the rise, eventually stalling economic growth and sending crude oil prices into negative territory. But recently, oil prices have surged, with crude hitting highs not seen since before the pandemic.
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