Even if you don't have the virus, chances are it's had some impact on your money and personal finances

1. Stay Calm. Yes it's scary but financial impacts like this one are not unusual.

Don't make a rash decision you may regret in the future.

If you want some peace of mind, look up what the Dow was trading at the day you were born.

look at where it is today despite the recent news.

2. Analyze your progress to goal. Before the crash your current savings level may have been adequate to reach your goals. Now maybe not. Find out what adjustments you need to make.

3. Rebalance. The goal with Investments is to buy when prices are low and sell when they are high.

Re-balancing on a set date every quarter ensures that you do just that. Stocks just went on sale.

4. Sure up your cash reserves. it's wise to always have at least 3 months of living expenses set aside in cash. Now you know why.

5. Try not to lock in losses. Selling when markets are down can be very destructive and you may end up feeling worse when they rise again.

6. Be careful listening to “experts”. No one knows the future so be careful taking advice from people who sound like they do. There are typically two types of people: Those who don't know and those they don't know they don’t know.

7. Create a “Bucket Strategy”. Organize your money into investment buckets where each one is allocated differently depending on when you need to tap it. The money you may need over the next five years should be invested more conservatively than the money you need 10 years into the future.

8. Find the waste in your spending. if you end up earning less over the next few months, find places to save money. Chances are you have a number of habits that can be changed: Dining out Coffee Premium Channels Clothes.

9. Get help. These can be scary times. Schedule a 15-minute call with our office today to learn how we help people plan for financial security through both good times and bad.

Call 610-695-8748 to arrange a brief call with Roy Innella

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For educational purposes only. Do not accept anything in this document as specific advice.