New Year’s Eve with the NSW bushfires raging, saw a very scary start to 2020.
Then March came, and COVID hit.
For some, COVID had no real impact on everyday life (with the exception of not being able to buy toilet rolls and some travel plans cancelled), while for others, there were job losses, business closures and non-socialising.
Financial markets had a downturn in March/April which appeared, at first, like another GFC moment. But there were major differences:
Firstly, this pandemic affected everyone, globally, and we seemed to understand what was going on.
Secondly, we realised that this wasn’t going on forever and that solutions would arise.
Thirdly, and probably most importantly, while some businesses did suffer from COVID, others thrived.
It was obvious that travel and hospitality were the hardest hit, but medical suppliers, office suppliers, internet providers and not to forget, toilet paper companies, alcohol and gambling all increased.
We thought that investment returns would remain low for quite some time, but the recovery has been very positive, with valuations pretty much back to pre-COVID. If you had investments, did you see the market downturn as a negative, or an opportunity for further investment?
At Lifestyle Advisers, we help you set goals and understand the position of your investments/superannuation and the ups and downs that you may face.
Need financial advice, please give us a call on 0422371192 for a complimentary consultation.
Authorised Representative # 268730
Member of the FPA (Financial Planning Association)
Member of the AFA (Association of Financial Advisers)
Member of the SMSF Association
Lifestyle Advisers Pty Ltd
Corporate Authorised Representative # 338242
PO Box 4125, Candelo NSW 2550
Both Shylea Ulrick & Lifestyle Advisers Pty Ltd are Authorised Representatives of:
AVALONFS Pty Ltd
Australian Financial Services License # 437518