Smart financial advice from local experts. Dollars & Sense SURVIVING MARKET VOLATILITY DURING COVID-19 By Mike Flannery, Fiduciary Manager, First National Trust & Wealth Management During these uncertain times, everyone is wondering what the future holds and what the long -tem effects will be of the COVID-19 vitus. Most of us have the same fears and anxiety and when it comes to your investments, all you can control is how you react. Staying the course and sticking with your long-term plan, although difficult, will help you make it through this difficult time. Here are some tips for Surviving market volatility. Keep a long term perspective. For many people, a retirement account such as your IRA or 401|k) may be your largest investment asset and the one you may be most concerned about at the current time. Keep in mind that you are investing for a long term goal. Even if retirement is only a few years away, your retirement could last twenty to thirty years, so you should have plenty of time to ride out the current market downturn. Don't Panic. During market downturms, it is normal to think about selling your invest ments and getting out of the stock market. However, selling because the stock market has suffered a big decline over a short period may be the worst thing you can do. Remember, market declines are a normal part of a functioning stock market and over time, the markets have risen despite economic trou- bles, terrorism and other problems, both financial and non financial. Try to separate your emotions from your investment decision-making process. Keep on Investing and consider a downturn as a buying opportunity. you have been making regular systematic investments to your IRA or 401k) don't stop. Dollar cost averaging means you are saving the same dollar amount on a regular basis. When the price of shares in a stock or investment portfolio drops, you are actually buying more shares and when the price goes up you will buy fewer shares. Over time, this can provide you with the oppor- tunity to lower your average cost per share. Market dedines can also offer you good buying opportunities. Many companies and industries are down, so if you are looking to put some extra cash to work now may be a good time. Stay diversified and think about risk. Diversification helps you manage the risk in your portfolio. Diversitying between stocks, bonds and cash helps manage your risk because typically not all move in the same direction at the same time. Losses in one asset category may be offset by gains in another. If you are worried or not able to sleep because of the curment market volatility, then you may be taking on too much risk in your investment portfolio and should revisit your risk tolerance. the recent market downtun has you thinking about making changes to your investment plan, do so in a thoughtful way. The professionals at First National Trust & Wealth Management ane here to help you through this time. Don't hesitate to call us today. First National Trust & Wealth Management TRISTED. INVESTED. COMMITTED Mike Flannery, MBA, CTFA Fiduciary Manager 3805 10th St. Menominee 906.863.2804 · trust.fnbimk.com Smart financial advice from local experts. Dollars & Sense SURVIVING MARKET VOLATILITY DURING COVID-19 By Mike Flannery, Fiduciary Manager, First National Trust & Wealth Management During these uncertain times, everyone is wondering what the future holds and what the long -tem effects will be of the COVID-19 vitus. Most of us have the same fears and anxiety and when it comes to your investments, all you can control is how you react. Staying the course and sticking with your long-term plan, although difficult, will help you make it through this difficult time. Here are some tips for Surviving market volatility. Keep a long term perspective. For many people, a retirement account such as your IRA or 401|k) may be your largest investment asset and the one you may be most concerned about at the current time. Keep in mind that you are investing for a long term goal. Even if retirement is only a few years away, your retirement could last twenty to thirty years, so you should have plenty of time to ride out the current market downturn. Don't Panic. During market downturms, it is normal to think about selling your invest ments and getting out of the stock market. However, selling because the stock market has suffered a big decline over a short period may be the worst thing you can do. Remember, market declines are a normal part of a functioning stock market and over time, the markets have risen despite economic trou- bles, terrorism and other problems, both financial and non financial. Try to separate your emotions from your investment decision-making process. Keep on Investing and consider a downturn as a buying opportunity. you have been making regular systematic investments to your IRA or 401k) don't stop. Dollar cost averaging means you are saving the same dollar amount on a regular basis. When the price of shares in a stock or investment portfolio drops, you are actually buying more shares and when the price goes up you will buy fewer shares. Over time, this can provide you with the oppor- tunity to lower your average cost per share. Market dedines can also offer you good buying opportunities. Many companies and industries are down, so if you are looking to put some extra cash to work now may be a good time. Stay diversified and think about risk. Diversification helps you manage the risk in your portfolio. Diversitying between stocks, bonds and cash helps manage your risk because typically not all move in the same direction at the same time. Losses in one asset category may be offset by gains in another. If you are worried or not able to sleep because of the curment market volatility, then you may be taking on too much risk in your investment portfolio and should revisit your risk tolerance. the recent market downtun has you thinking about making changes to your investment plan, do so in a thoughtful way. The professionals at First National Trust & Wealth Management ane here to help you through this time. Don't hesitate to call us today. First National Trust & Wealth Management TRISTED. INVESTED. COMMITTED Mike Flannery, MBA, CTFA Fiduciary Manager 3805 10th St. Menominee 906.863.2804 · trust.fnbimk.com