COVID-19 Financial Advice, with David B. Armstrong, CFA
Sean Spicer and co-host Lyndsay Keith welcomed Monument President and Co-Founder David B. Armstrong, CFA back to their show Spicer & Co. on Thursday, April 23rd to continue the conversation about investing during the pandemic. Dave offered some COVID-19 financial advice in these uncertain times for retirees and for those considering investing in oil.
COVID-19 Financial Advice for Retirees
Use history as a guide and remember, time is your friend.
In unprecedented times like this, when there aren’t many facts available, the best thing to do is use history as a guide. Historically, regardless of individual situations, time has been an investor’s best friend. For investors 10-15 years out from retirement, this market downturn probably isn’t too relevant to their long-term goals. For individuals living off of a fixed income, assuming they had a plan in place before February, the current situation doesn’t change much.
Read More:
- Using history as a practical guide – How to navigate decision making in the absence of facts
- This is more critical than anything you’ve done over the past 10 years
Should I Invest in Oil?
Unless you can predict the future, now is not the time to gamble on commodities.
For individuals with disposable income looking for investment opportunities during the current pandemic, investing in oil has become a widely talked about option. Dave says: unless you are a trader in the commodities market, stay away from this investment theme. Unlike stocks, where you can consider factors such as earnings, management teams, and product launches in your investment decision, oil is a commodity and the only things that can be assessed are supply and demand. Since oil is priced by supply and demand, unless you have some really, really great insight into the global market (hint: no one does) then investing in oil is not a great play for most investors.
Read more:
Missed the last show on COVID-19 Financial Advice? Here it is:
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Please remember that past performance is no guarantee of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Monument Capital Management, LLC [“Monument”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Monument. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. No amount of prior experience or success should be construed that a certain level of results or satisfaction will be achieved if Monument is engaged, or continues to be engaged, to provide investment advisory services. Monument is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice.
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