"This Too Shall Pass” Blog PostIdeas on How to Use Your Extra TimeArticle: The CARES Act
Wow. It’s amazing how much life can change in a couple of months. Life as we know it has come to a standstill and most of us are staying in our homes due to the coronavirus. Some experts believe that the COVID-19 global pandemic will cause permanent changes in our lives, our psyches, and in the normal way that business is conducted in America and around the world.
My guess is that people will have a new appreciation of things we once took for granted, like being able to leave our homes without gloves and a mask, and knowing that the store shelves will have toilet paper when we need it.
None of us really know how long the pandemic will last and when the market turbulence will end. I found this infographic from Morningstar and thought it would be interesting to share. It illustrates all of the market downturns and recoveries since 1926. As you can see, there’s quite a bit of variability in terms of the duration of the downturn and recovery for each event.
An important thing to note on the chart is that each market downturn has a beginning and an end. Even though there’s a high amount of uncertainty surrounding this new virus and the economic fallout that has followed, at some point this market downturn will also come to an end. Until the market cycle is finished, we need to be resilient, persevere, and act rationally in the face of adversity. This too shall pass.
As you are spending more time at home and are searching for things to do, here are a few ideas besides cleaning out all of your cabinets and closets:
On Friday, March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. This $2 Trillion emergency relief package is intended to assist individuals and businesses during the ongoing coronavirus pandemic and accompanying economic crisis. The major relief provisions are summarized here.
Click here to read the article, The CARES Act.
I hope you enjoyed the newsletter. Please email me at email@example.com with any questions you have regarding planning for your future.
Thank you! Cindy Turkington, CFP®, CDFA™
Mailing Address:855 Village Center Drive, #360 North Oaks, MN 55127
Viruses are contagiousso are panicfearhysteriacalmloveenthusiasmkindnessjoyChoose wisely