Stay calm, don’t panic . . .

Don’t let concerns about retirement funds add to your distress. In the most challenging of times, it is important to keep perspective. Patrick Convey on the things to remember now.

In the modern era, we have far greater access to world news at just the click of a button or from flash news alerts on our phones. 

This is not always a good thing, as newspapers and websites publish stories that will attract readers. 

It can be all too easy to focus on these stories and get gloomy, disheartened or uncomfortable about the reported danger to life, society or wealth of these threats, the latest being Covid-19.

Speaking purely from a financial point of view, economists will remind us that these world and health events have happened throughout history with some regularity. 

Over the past 20 years alone, there have been many material events that we may have found particularly hard at the time. As distressing as the situation is for all those affected, investors should not be surprised by the financial effects they may be witnessing on their investments. 

During such times of uncertainty – at least from a market perspective – it can help to look at the past to ease our concerns. The past may not, of course, repeat itself but markets have been remarkably resilient.