I’m going to go off record a bit here and tell you how I am handling the shut downs, the panic, etc… and how I believe you should as well. Here are my Top 5 Tips for how to deal with COVID-19, how to keep your money (or make more) and how to stay sane.
Stay Healthy - Do your best to keep up your fitness, do cardio outside (not in groups), build a home gym, eat healthy - home cooked meals. Move, don’t sit around watching Netflix all day. I built a gym in my garage by buying a bar set, bench and some dumbbells. I’m able to do most of my regular gym workouts thanks to the garage gym. I also have been paddle boarding, going on walks with my wife and newborn and still working outside (with PPE).
Wear PPE in Public - Wear a mask or hoo-rag over your face. Wear gloves. Use hand sanitizer and wash your hands well and frequently.
Don’t Panic Sell - Don’t sell your long-term investments, unless you are close to retirement age. Hold steady. Be disciplined. Don’t freak out.
Dollar Cost Average - Keep investing, don’t stop. Maintain your regular investments, just find good companies to invest, think tech, bio-tech, cloud stocks and essentials that will weather the storm.
PPP Loans and Mortgage Assistance - If you have a company (small business), look into PPP loans that will cover your essential payroll and keep people employed. If you are a real estate investor like me, contact your lender to see if you can get mortgage assistance (like deferment). Also, you can get a disaster relief loan for $10,000 that is forgivable if used to keep employees on the payroll.
Now, for my investments, like most people, look like crap in March 2020.
3/6/2020 - I purchased 2 shares of DIS @ $112.50 and 1 share of V @ $181.91.
3/9/2020 - I purchased 1 share of BA @ $233.77, 2 shares of CRSP @ $45.95, 1 share of STZ @ $167.95 and 2 shares of DIS @ $107.69.
You could say I was trying to catch a falling knife with these investments, but they are all companies I like long term and I was looking to buy them on some good opportunity - I keep trying and I believe long-term all these trades will turn out.
3/11/2020 - I purchased 1 share of DIS @ $103.16.
3/12/2020 - I purchased 1 share of DIS @ $93.31, another at $92.54 and 1 share of FB @ $157.56.
3/17/2020 - I purchased 1 share of DIS @ $92.53, another at $92.29 and 1 share of V @ $156.71.
3/18/2020 - I purchased 1 share of BA @ $99.46 and 1 share of DIS @ $82.74.
3/23/2020 - I purchased 1 share of AAPL @ $225 and 2 shares of DIS @ $84.45.
Since 3/11, I’m up on all of these moves, but have not recouped completely. I was actually hoping to buy more this first week of April, but stocks have been up every day and have not provided a good opportunity from my perspective.
Keep your head, up the world will keep on spinning. Stay safe.