What would you do if you inherited $1 million today? Would you spend it or invest it? Notable Number 2 in this week’s Weekly Market Review contains a statistic that probably won’t surprise you.
Whether updates on the virus, the unprecedented relief efforts, the results of the quickly changing investment markets, or stories of the heroism displayed by so many, it is has been overwhelming to try and digest the giant amount of news. The entire process of trying to stay up to date on the fast changing information has fatigued me. Like everyone, I’m growing tired of this situation and am anxiously awaiting normalcy to return. Except traffic congestion and delays…not dealing with those has been amazing! Can we restart the economy, but without traffic problems?
The markets surged upward last week resulting in the best week for the S&P 500 since 1974. Many believe the markets have advanced too much too soon, but some of those same people would agree that the markets fell too much too quickly between mid-February and March 23rd when it hit a low. As I’ve shared with so many clients I’ve spoken to recently, I have no idea where the market is going tomorrow or next week, but I know with confidence that the market is going up significantly over the longer-term.
The Weekly Market Review contains updates on the oil markets, unemployment, and our country’s national debt. As always, we hope you find the WMR both interesting and informative.
Good Deed Opportunity – Gas is cheap so go for a drive and deliver a social distancing visit or a treat to someone who has had to endure this situation all by their lonesome.
If I were to inherit the $1 million I’d spend some of it, give some of it away, and invest the majority of it so I could spend more and give larger amounts away down the road.
As always, we hope you find the WMR both interesting and informative.
Trevor N. Coe, CFP®