If you're a Zoom shareholder, tax expert, or bike shop owner, your financial health may have gotten a big boost from the coronavirus. But if you’re like many, the opposite is true. The CARES Act helped, but it didn’t plug every cash flow leak. And with the uncertain status of the economy and future stimulus benefits, money could get even tighter.
Next stop, 401k? Not if you can avoid it…
Never mind that, historically, financial markets have always recovered — and then some — from major crises. When they pull back as much and as swiftly as they have in recent weeks, investors can’t help but wonder if “maybe it’s different this time.”
Maybe it is. Maybe all previous assumptions about market behavior are null and void. But more likely, it’s a case of “same scat, different decade.”
Copyright 2023 by Sherrill J. St. Germain.
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