Pandemics, Market Free Falls And The Assault On Retirement Savings

By David J. Scranton, CLU, ChFC, CFP®, CFA, MSFS

To say March 2020 was a volatile month for the stock market would be an understatement. During the course of the month, the market’s fluctuations have resulted in substantial losses. Many Americans have seen their portfolios shrink by 20% or more.

It’s déjà vu once again. With the outbreak of the coronavirus, ensuing economic slowdown and vio- lent market reaction, many have grown fearful of investing. The speed and severity of this COVID-19 outbreak, combined with the massive behavioral and economic consequences has driven the global financial crisis. Worst of all, this has cost many Americans their lives as the outbreak continues to spread.

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