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Your Personal Finances Up, Down and All-Around

Day 2, Post 2

Your Personal Finances Up, Down, and All-Around

What should you have done to protect yourself against the “Up, Down and All- Around Coronavirus Ride”?  Your finances have taken a hit.
Remember, all of your finances are under attack and eroding. You can’t see or have access to many of your investments like your government pension funds, your company pensions, and any investment you can’t access easily to see how they are performing. (i.e. mutual funds)
The world is sharing your pain as all global markets took a hit, companies are scrambling to deal with having to shut down large segments of their businesses.
Folks who get their investment statements monthly in the mail don’t realize how hard-hit their investments are until they open their envelope.  I have been one of these folks.
In the financial crunch of 2008/9, the best advice I heard was not to panic and don’t sell off your portfolio.
Look at the stocks within your portfolio and the companies balance sheets. And if you had confidence in these companies before the coronavirus pandemic, then why would these companies not handle the downturn in a well-managed way and come out of the slump even stronger.

“Even If”

Perfect Timing isn’t a practice for Most, most investors never catch the bottom of the market and buy.  Many investors pick the top of the market and sell.
The global markets have all taken a substantial loss from their highs.
Many of the world markets were at their highs, only several weeks or a few months ago. How distant this all seems!
I love the folks who tell you they timed the free fall of the market correctly. Unless you are some senator in The United States who got inside information, your chances of timing your finances ideally are like having a fortune teller.  Remember, fortune tellers, are a form of entertainment, short-term good feeling for a lifetime of emptiness and hollow promises.
In today’s volatile Coronavirus World, there is one thing for sure, Change. This change some days is good, bad, or indifferent.
The advice you get ranges from being Still, take a deep breath and ride out the tide. I accepted this advice, but it is hard to sit still.
Are you afraid we have not hit bottom yet, and you want to preserve some of your wealth?  The retreat of your investments has evaporated your financial portfolio’s progress, and you think more losses are to come.
I believe most of us have already seen the bottom of the financial volatility, and the markets have bounced off the bottom.
We will not be returning to the lows of 2020. (Dow, US: DJIA March 23 18591.93 and TSX, Canada, 11288.49 March 24)
Don’t believe me; look at the stock market DJIA and TSX, review their levels today.
Why am I so confident in saying this, look how China has bent the curve and is opening up most of their countries economy, take this with a little grain of salt.
I tend to rely on how countries like South Korea have managed COVID-19, keeping numbers actual cases of coronavirus to a minimum compared to other countries and deaths low.
The other countries around the world are learning fast and quickly adapting to the crisis.  I don’t profess to be a health expert; there is a definite “Global Will” by both the people and the governments of the world to bring the coronavirus to its knees.
Remember, the ride is cyclical,  roll-a-coaster ride, or a merry-go-round, they always return and to where you started.
Think back to the lows of 2008/9 financial disaster and how we were enjoying the economic ride again up as early as January 2020 and then bam, the coronavirus pandemic.
Most of us have been watching our investments fall one day, go back up another and then flatten out for an hour or two, or a day or two, then back down again.  Unless you are prepared to get engaged and manage your finances, then being a passenger is the best you can do. It is not always a smooth ride.
Remember, you are one of the billions trying to get your financial situation back to the early highs of 2020.  Guiding your investments back on track is going to take time.

Models on the Raise

The coronavirus genie is already out of the bottle, and everyone is trying to chase the genie down and put back in the bottle, not happening.

How Does the World Handle This?

You can’t put a time frame on a pandemic, but now many governments are creating the worst-case and best-case scenarios.

Drawing a Line in the Sand 

Most politicians think they can draw a line in the sand. With every line in the sand, it gets washed out with the raising and lowering of the COVID-19 tides.
I admire politicians trying to be a beacon of hope, but let’s get visible signs of bending or breaking the curve.
Many countries have set a 14-day timeframe for their countries, states, or provinces. You can’t call for a 14-day deadline and then keep resetting the 14-day date.
The 14 days is perpetual as it starts all over again the moment you let someone cross back into your continent, country, state, provincial, county, city, or town borders.
What is evident is this start date of 14 days is nowhere in sight, so how can there be an endgame.
Accept that there is no short-term marker and think midterm 4 to 6 months. You are more likely to be less disappointed and get anxious every day.
Give yourself some breathing room to look out ahead.
I decided to write ninety blog posts, an average of one a day for April, May, and June.  I am not a health expert or a politician; I have lived through a resetting 14 days since March 13, 2020.  I am tired of being told to keep resetting the 14-day coronavirus clock.
If the world, yes, the world can get this under control sooner than later, hallelujah, and if not, we all will develop a thicker mental, physical, fiance and learning skin.
From Our Happy Place to Yours, Be Healthy, Be Safe Until Our Next Post

About the author, W. Rick

Dynamic entrepreneur and sales management strategist; with over 20 years of experience in his field. Rick has achieved multimillion-dollar sales growth while providing award-winning sales leadership and coaching in highly competitive markets.

An active real estate investor since 2002, Rick has developed his purchasing strategies and processes specializing in vacation and recreational properties, single-family homes and condo rentals.

In 2005, Rick re-financed his first rental property to fund the purchase of more positive cash flowing rental properties.

Rick sits on the Board of Directors for several condominium associations and is an active President and Treasurer. Sitting on these boards has given him a wealth of experience and insight into working with property management companies.

Rick has partnered with several joint venture associates and is committed to creating a positive investing experience for his associates by finding the properties, developing the investment, securing the financing and executing a proven positive cash flow system.

Why should you choose Rick as your Online Vault to Investment Real Estate Success Advisor?

An outstanding mentor and coach, Rick will work with you to build your investment real estate business starting from the foundation. From guiding you through the market research and critical drivers, building your team of trades, realtors, and lenders to attracting the investment real estate properties right for your portfolio and the joint venture partners to help you grow.

Through direction and training, Rick will help you develop your investment real estate goals and be a catalyst for you to purchase your first investment real estate property so you can build a strong financial foundation unlocking sustainable wealth and a living legacy for you and many generations to come.

Thank you for taking the only asset that gives us so much through life, but we can never get back our time.

Please join Rick on living his mantra:

” Prosperity for all aspects of your life forever.” W. Rick Harris

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