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Market Update from Freedom First Wealth Management

Posted by Freedom First Credit Union on Mar 25, 2020 11:08:04 AM
Freedom First Credit Union


This article was originally written on Sunday, March 22, 2020.

Steve Devlin, Senior Financial Consultant with Freedom First Wealth Management, and Jason Fletcher, Financial Consultant with Freedom First Wealth Management, share their thoughts on the market and steps you should take in response.

As the number of people confirmed to have COVID-19 increases, we will likely see a continued effect on businesses and the markets. While most of the markets losses are probably behind us, the increasing number of positive confirmations of COVID-19 leaves the question “where is the bottom of this market decline?” still unanswered. We believe we could still be a couple weeks from when the number of new cases reported will begin to decline.


Let’s look at some key considerations

1. The markets have now experienced the correction many were waiting on.

2. The daily swings in market values are less now than a week ago.

3. Many investments are now undervalued and seen as buying opportunities or expected to be in the near future (by the time the number of new cases begins to decline).

4. Americans are social distancing, so many of the increasing number of cases we see today are still a result of the time we were not social distancing.

5. Our Government and Medical professionals are working with great focus to get through this pandemic.

6. The Fed is being proactive in creating financial balance.

What are we really saying

1. If you were invested during the market decline, staying in is the best way to get your value back to where we started this year, even though we may not be at the bottom just yet.

2. If you have enough cash to live on for the next couple months, consider not withdrawing from your investments to enhance the funds invested when the markets do bounce back.

3. If you have been considering investing more money, be sure you have transferred those funds to the cash position in your investment account so we can invest them on the day appropriate for you.

4. The majority of the market rebound will likely require the reporting of fewer new cases and businesses reopening, but the markets should start their rebound before everything returns to normal.

Will you be okay

The most important part of working with us is the plan we create together. That said:

 1. We structure your cash reserves to meet your short term needs during hard times.

2. We set your risk level based on your perceived tolerance so as to protect your future income needs.

3. We are constantly monitoring and looking at ways to take advantage of this market situation to help you prosper (things like tax harvesting, improved fund selection, etc). Note: this could lead to some fund changes in your portfolio.

Steps you can take

1. Practice Social Distancing. Only go out as you need too, work from home if you can, and create physical space the best you can.

2. Look for the stories of people serving each other and do the same if you can. It’s the positive stories that get us through the day in the midst of fears.

3. Spend time connecting with people through the phone and social media. Laugh together!

4. If you are a parent still raising children, enjoy this time at home with your kids.

5. Consider not taking withdraws if you have enough cash already to cover the next few months.


Call us at (540) 400-7611 if you have questions or just want to chat about your accounts and the market conditions


Steve Devlin, Senior Financial Consultant, Freedom First Wealth Management

Jason Fletcher, Financial Consultant, Freedom First Wealth Management


For more information about Freedom First Wealth Management services or make an appointment, go to our website www.freedomfirst.com/wealth-management

Products offered are not NCUA or otherwise federally insured, are not guaranteed by or obligations of the credit union, and may involve investment risk, including possible loss of principal.

Securities offered through LPL Financial, member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Freedom First Federal Credit Union deposits and are not NCUA insured. These products are not obligations of the Freedom First Federal Credit Union and are not endorsed, recommended or guaranteed by Freedom First Federal Credit Union or any government agency. The value of the investment may fluctuate, the return on the investment is not guaranteed, and loss of principal is possible.

Investment advice offered through Level Four Advisory Services, a registered investment advisor. Level Four Advisory Services, Freedom First Federal Credit Union, Freedom First Wealth Management, and LPL Financial are separate entities.

The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: VA, MD, NC, PA.

Topics: Tips & Tricks, Personal Finance, Personal Savings, Wealth Management

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