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Suddenly, restaurants, bars and stores are closed, cruise ships float idly, planes fly with empty seats, hotels without guests, thriving industries two months ago now losing billions daily. Fear grips investor hearts.
Many workers are homebound; productivity has decreased and the economy is in the grasp of a disease that dominates our conversations and keeps us glued to our TV’s and the internet. Other diseases are causing more deaths, but Coronavirus is getting top billing.
Political leaders disagree; do we bailout individuals or the companies that provide their jobs? Do we focus only on the Coronavirus or preserving our economy and our way of life?
Some have panicked; sold all. If done in an IRA or other qualified plan, no harm, no foul. Stocks sold in non-qualified accounts may be taxable, may shock sellers when they see their tax bill in April 2021.
At all times, but especially now, investors need a plan and an advisor that can help them stay calm when anxiety strikes. EPS promotes a different strategy. To make it understandable, let’s use real estate as an illustration. One can “buy and flip,” but when the market crashes and your last flip didn’t, do you have sufficient cash to buy again? Should you I buy now? Is this the market bottom?
EPS prefers that other strategy; “buy and collect rents.” We like securities that generate dividends and distributions instead of forcing us to pin all hope on growth. Reinvested dividends when the market is down buy more shares of stock.
If you are already with EPS, stay the course. If you do not have a course or if you are a “flipper,” let’s talk. We can answer questions, calm your fears and help you decide what to do now.