You must have seen stock markets crash by now due to COVID-19 and your mind would be brimming with questions about your Investment
What should I do ?
Is this a good opportunity?
Should I buy ?
Right now, Its important that you have cash in hand.
Take out the money from market and stash away in bank
Its no Time to Invest.
Investing in unknown future is like walking in Dark. Its foolishness.
- Survival is Top Priority right now. Make sure to have enough cash to manage yourself ,household and medications, for atleast a period of three months.
2. Don’t Rely on Social Media. Pay Attention to what your government and local authorities are saying. Social isolation is the best measure which also worked in China and South Korea.
3. All Business will not go down.Essential Services and Dependencies will work no matter what.Those Businesses which can will be about working from home, reducing team activity, and in extreme situations, these have also shut down temporarily in affected countries.
4. Avoid the impulse of Hoarding. World is not going to end. do not hoard as if you are faced with a famine. You definitely don’t need half the super-market in your pantry. Buy responsibly.
5. Give out a Helping Hand. Reach out to your Nearby Elderly citizens. We need collaboration to survive this
6. Don’t make a fuss about loss of value in Investments . What matters in COVID-19 more than Investment is the income and its flow. Do you have a job that offers salary even during the shutdown and are you going to sustain after period? Wealth will return to its value after the crisis has blown over; if you have the privilege of not having to access it now, stay calm. Don’t keep looking at market numbers.
7. Stay Positive. Help others out in whichever way you can.
8. Don’t be in denial. COVID-19 around us is real, and the world has not yet found a solution. There is no need to fear and panic. But it is important to recognize that this is new, big, and completely unknown. A pandemic of this magnitude will call for action and behavior we have not known before. Drop tactical thinking and prepare.