Hope you are safe and spending quality time with your family at the cozy confines of your home. This pandemic is compelling us to confront the fragility of this human life and all its endeavors. So, make use of this 21 days-break from the tedious routine to look into/complete all your personal work which were kept pending for ages. Remember you will not get the opportunity like this again for sure, so make the best possible use of it to plan for all your needs.
Business, as usual, is not going to be possible in the next few months, but we can certainly deal with it with a greater societal effort on an unparalleled scale. Consider a situation where we are on a flight, and suddenly we experience turbulence in the aircraft. While the pilot who might have encountered similar kind of situation myriad times, it does give us life crumbling shock. Even though the crew gives us comforting words to stay calm, as a traveler we have two choices – (1) Trust the pilot and pray for a safe landing, (2) Keep blaming everyone shooting the self-stress as well as that of the surrounding population.
When we are in this 21-day lock-down, it is not the right time to check our property value, gold rate or any other investments. But you can very well question your financial consultant like me why the fall is and how long the impact stays in the market. How the future unfolds nobody knows and THIS MIGHT BE THE NEW NORMAL FOR A WHILE & DON’T WORRY WE ARE IN TOGETHER.
It is purely your choice if you want to get out now and, when you do this you are converting your notional loss to permanent loss and you are getting out at the rock bottom level. Recovering such a huge loss in any investment vehicle is very difficult, at the same time if it further falls another 20% (I don’t think it will happen, but GOD forbid if the 21 days lockdown extended for another couple of weeks there could be little chance for that to happen, today market reactions are difficult to predict) it still has the ability to bounce back.
It’s not mere soothing words, if you notice Sensex from 21,000 level in 8/1/8 to 8,160 levels in 9/3/9 and again 5/11/10 it is 21,000. 14 Months fall, took 18 months to recover. The reason for 4 months more is to cover 70% loss market has to move 141% to get the same level. So, when it goes out of hands, fight fear only with facts. Those who stay invested ride through this volatility with slightly reduced difficulty. I can only suggest some measures to alleviate the mental health impact due to this economic crisis. Just look at the last 3-day performance of Sensex has rallied nearly 16%. It doesn’t matter how many times you fall, what counts is how many times you stand up again. Market always stand up and stay longer than it falls.
26/3/20 today High
|23/3/20 low||Gain in %|
Today, am receiving more calls about taking Term Insurance, Medical or Health Insurance. When everyone is so absorbed in their profession, they didn’t have enough time to think about it and now in these kinds of grappling situations, many started inquiring about the same. I reiterate, what we are paying for insurance premium particularly these two (Term & Health) is very little and you can consider this as ONLY charity if at all you wanted to do something. Every year only a few are benefited by taking these two policies, in those periods our premium will only help the needy its apt to call it as a real charity. Even if your organization is providing something similar, take something on your own because no organization or your job in that organization is permanent.
As my tagline reads Your Personal CFO, this is the time to discuss how to sail through tornado-phase, it’s neither difficult nor easy, as Warren Buffet says” the most important quality for an investor is temperament not intellect”.
Please be in touch through email@example.com for both term as well as health insurance-related queries.
Here, I have enclosed a model excel sheet to work upon since you are home with ample time of your own. It not only helps to assess your present financial position but also helps you to plan your future investments. Next 3 months, not many people will make a big purchase when the economy is in doldrums and all your concern would be centered on having enough money for the immediate next months. Please click the below link for the excel files to be filled at the earliest.
Your Personal Wealth Tracker Updated
Tags : ,
At Fortune Investment Services, we focus on our clients most critical issues and opportunities. We offer them the variety of investment avenues available, provide a walkthrough on the purpose of the investment vehicle and make sure we choose the right product suitable for client needs.
Shri Mahalakshmi, Ground Floor, New No. 6, Third Lane, Habibullah Road, Near Nadigar Sangam, T. Nagar, Chennai – 600017
Copyright © Fortune Investment Services. All rights reserved. | Designed & Developed By : www.anchoredge.in