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Special Edition COVID-19 #6 /PUBLISHED BY EC CLASSIFIEDS
Don’t panic in the stock market
”Don’t sell now,” Kruman says. “People who are being induced into panic are selling, and somebody else is buying those shares for when prices recover. The stock market always has fluctuations. It comes down to risk tolerance. You have to be prepared for volatility and be diversified.”
Don’t rely on group life insurance anymore
Many people have the majority of their life insuran- ce through their job. But when you lose the job, you lose the life insurance. “You have to replace it with new life insurance at an older age, which means a higher premium, and with possibly negative health changes, again upping the premium,” Kruman says.
Find an independent financial advisor
“An independent advisor doesn’t have a company telling them what to invest clients’ money in,” says Kruman. “A client’s best interest should always be the number one priority for an advisor, and it’s ea- sier to maintain that focus by being independent of any parent company’s fee goals or investment se- lection limitations.”
Courtesy of News and Experts
