The coronavirus pandemic continues to shock the entire global financial system – not to mention our everyday lives. As of this writing, there are more than 550,000 cases worldwide and more than 100,000 in the United States – including over 1,700 deaths.
And while stocks rallied 11% this past week, after the Senate passed a $2 trillion stimulus package, unemployment claims shot to a record high of 3.3 million.
In uncertain times like these, it’s easy to make rash decisions. But longtime Daily readers know if you stay rational (and follow CDC guidelines to protect yourself from COVID-19), you’ll emerge from this crisis in a better position.
So for now, focus on raising a little extra cash (we recommend up to 10%), rebalancing your portfolio, and finding areas where you can cut spending.
Now, we’re not saying it’ll be easy; we’re facing incredibly tough times. But as everyone else panic-sells, the best strategy to practice right now is to stay invested. Meanwhile, review your investment plan today, so you can be better off tomorrow…
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Regards,
Chaka Ferguson
Managing Editor, Palm Beach Daily
P.S. While the stock market is starting to show life again, a tiny subsector of the crypto market has gone overlooked. In fact, Daily editor Teeka Tiwari says from a risk/reward standpoint, the best investment today is emerging from crypto.
While the stock market gunned over 11% higher this past week, the crypto market had already leapt 25% higher the week before. And according to Teeka, even if stocks hit new highs tomorrow – you’d only make about 40%.
But he’s found five tiny cryptos he believes have the potential to turn a few $500 investments into as much as $5 million as the crypto market rebounds.
We’re not saying don’t buy stocks… But cryptos give you the potential to make outsized gains while keeping your positions small.
To learn more about Teeka’s “Final Five,” click here. But don’t delay. It’s only a matter of time before his presentation gets pulled offline.…