Your Super and Coronavirus
The following information is not intended to be viewed as financial advice. Please consult a qualified financial adviser before making any decisions relating to your superannuation.
As we’ve seen, coronavirus (COVID-19) has heavily impacted the share market and many people are asking about their superannuation.
So, what do we say? Well, the best advice of most is - don’t panic and we fully concur with this. With the current market volatility, such as what we are seeing right now, the best thing to do in most cases, is nothing.
Now is not likely to be the time to be making major changes. Over the long-term, markets bounce back. These tragedies impact people but they’re short-term health crises, not long-term financial crises.
While it’s never a good idea to exit the market after a crash, it could be timely to review your investment options to determine whether the risk level is right for you.
So should I react to the coronavirus? Making sure you have the appropriate tolerance to risk.
Stu Varidel and Your Choice Financial Planning Pty Ltd trading as Heart Financial Advisers are authorised representatives of Sentry Financial Services Pty Ltd.
The information contained herein is of a general nature only and does not constitute advice. You should not act on any information without considering your personal needs, circumstances and objectives. We recommend you obtain professional financial advice specific to your circumstances. The views expressed here are not ours. While the information contained in this article may contain or be based on information obtained from sources believed to be reliable, it may not have been independently verified. Where information contained in this publication contains material provided directly by third parties it is given in good faith and has been derived from sources believed to be accurate at its issue date. To the maximum extent permitted by law: no guarantee, representation or warranty is given that any information or advice in this publication is complete, accurate, up to date or fit for any purpose; and no party or associated entities as mentioned is in any way liable to you (including for negligence) in respect of any reliance upon such information. This article may also contain links to websites operated by third parties who are not related to us. These links are provided for convenience only and do not represent any endorsement or approval by us.