We all fear uncertainty, but in volatile times, many Big Givers are particularly nervous. When primarily using wealth to support causes you care about, it’s natural to wonder “Are we going to be ok?” “What if we need those funds?” “Can we continue with these large gifts?” First, we should first acknowledge that these concerns are normal. Then, we can ask two key questions back.
There’s no getting around it – recessions are stressful. The 2020 COVID-19 pandemic is just the most recent reminder. Recessions bring volatility, uncertainty, anxiety and the urge to act – do something, anything, to make sure I’m safe. This is often where people make mistakes. Here are a few common ones we see and how to avoid them so you’re ready the next time around.
Turn on the TV or scroll through a news feed in uncertain times and you’re sure to see that nasty “R” word - Recession. “How bad will this be?” “How long will this last?” It’s not uncommon to hear, “This one is different!” or “We’ve never seen this problem before!” So, what does history have to tell us about this topic?
We don’t see this as the next Great Depression. Why? Well, historically, major economic downturns have different causes, but one common thread separates the Great Depression from each subsequent recession and recovery.
Thanks to all who attended our webinar on 4/29! We were glad to host Paul Single, a Senior Portfolio Manager at City National Rochdale, to discuss the coronavirus impacts on the market and economy and Q&A from many of you. For anyone who wasn't able to participate, we've made this replay available. We hope you find it helpful!
In days, weeks and months of sharp declines, the first thought is often to sell stocks and “wait for things to stabilize”. Unfortunately, this usually means watching the market rebound and missing the upswing. Why do many advisors say you should ride it out? Because sharp market declines are usually followed by equally sharp recoveries.
Whether you're retired and living on portfolio income or just starting...
Job loss, unexpected trip to the hospital, a tree falls on the house –...
Headlines, social media, internet ads, 24-hour news – everything seems...