CHI advisory board member, financial planning expert and regular on CNBC, Sarat Sethi shares his advice for navigating the economic climate created by the global COVID-19 outbreak. Check out Sarat's video (see left) and his four tips (below):
Start With Your Allocation
The first step Sarat recommends is reviewing and understanding how your investments are currently allocated.
Look Into Your Retirement
Explore the choices available to you regarding retirement accounts--from shifting your IRA to a ROTH, to skipping your annual distribution.
Consider Charitable Giving
Consider giving any appreciated stock to charities. This donation can help build their investments while providing a tax savings to you.
Resist Panic Selling
Markets are known to rebound so if you can survive the current volatility without selling off investments, do so.