As I write this in mid-October, 2020, the stock market is sitting right at an all-time high. But there’s still an ongoing pandemic – and a presidential election looming. Either of these things can cause big short-term swings in stock prices.
That means things are pretty risky at the moment. In the short-term, anyway.
As financial advisors, we have to help our clients understand that risk, and help them manage their money so they can accomplish their financial goals, but also so they can sleep at night in the meantime.
Those of you who have been around since before 2008 know this process well. For those of you who are just getting started, here’s what you need to know.