Getting Through the Market Hiccups

By Monument Wealth Management Team | Sep 09, 2020 | Featured Articles

We’ve said it time and time again—keep looking forward, beyond the volatile COVID-19 market. But what’s the best strategy to effectively get through these market hiccups? Our co-founder, Dean J. Catino, CFP®, CPWA® caught up with Grow to talk the ups and downs of the market and what it means for you.

Grow, powered by the financial services company Acorns in partnership with market experts at CNBC, is a platform that delivers financial education and advice on how to best foster a successful financial future. In this article, they discuss the second-quarter earnings trickling in, what to expect, and what the numbers could mean for you:

Although strong earnings reports from high-tech giants may lead to positive market movements for the tech sector, that will likely be a short-term reaction[…] Overall, the second-quarter earnings picture is not expected to be rosy.

Dean’s advice:

Most market experts are advising investors to look beyond the current numbers and toward the future. To do that effectively, it’s important to have a cash reserve and make sure your portfolio is properly diversified and in alignment with your financial plan, says Dean Catino, CFP®, president and co-founder of Monument Wealth Management in Alexandria, Virginia.

Dean’s thoughts complement Grow’s discussion of the market hiccups and how you can best prepare for upcoming challenges. With COVID-19 cases rising, continued job insecurity, many people still working from home, and school districts reversing fall plans, investors have all eyes on the market to see how it will react. Advisors are sticking to their guns on waiting this out.

The key to getting through market hiccups

At Monument, we know that holding out for the future is often easier said than done…especially when pandemic numbers have reached lows none of us were expecting for this year. But, as Dean said, the key to successfully getting through this will be:

1. Making sure your portfolio is diversified enough to handle upcoming dips
2. Having a cash reserve so you don’t have to sell when the market is down
3. Sticking to your carefully crafted, long-term financial plan

Not sure if your portfolio is where it should be? Haven’t updated your financial plan since…who even knows when? Don’t fret – that’s where we come in! We’ll help you clean out the basement filled with cobwebs of financial paperwork and put you on the right path to take on whatever the market may bring. Check out how we work with you to co-create a Private Wealth Design that helps ensure your comprehensive wealth plan and corresponding investment portfolio is serving your best interests.

In addition to predictions on second-quarter earnings, the Grow article considers how a resurgence of shutdowns and layoffs will result in an even weaker job market and notes the expectation for positive housing figures from the month of June.

Read the full article on Grow >

 

What’s Next?  Learn about Private Wealth Design:

 

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