As the global pandemic, COVID-19 continues to ravage territories across the world, not only is it causing damage in healthcare, but it is also having massive effects on the economy, with 3.5 trillion USD worth of economic output lost. While financial experts are still determining exactly how significant the economic fallout will be, stocks and currencies have taken major hits, and a global depression is being considered. It may sound like a terrifying outlook, especially in terms of future-planning financially. However, there are still ways to properly invest in assets for the long run, even as everyone enters a challenging period of recovery from this virus.
Here are some pointers that can help you when you decide to invest for the times ahead:
Look into house and land.
Finding house-and-land packages isn’t difficult, but the way to get a good price point is by snapping up the right property in time. In the advent of a recession exceeding six months, AMP economists are expecting house prices to fall by 10 to 20%. That makes this the opportune time to get into a market that has been previously noted for becoming increasingly expensive, with housing affordability becoming less accessible.
Whether you are investing in this as personal property or for profit, it will be strategic to do this before foreign investors take up all of the cheaper features out there. Through uncertain times, foreign sources will be looking into the crisis response employed by the nation.
Don’t put all your eggs in coronavirus-relevant stocks.
The stock exchange has seen some of the worst fluctuations in the height of this outbreak. So choosing the right investment will have to be based on long-term profitability that will rely on its durability beyond the confines of this pandemic. While it may feel like this widescale world event has a tight grip with unrelenting confines, most businesses that thrive are the ones that have lasting power and not just a surge in profitability during disasters and relevant times.
Financial experts are urging investors to look beyond tailwind increases. They should base their strategy on brands or businesses that thrive even without the panic and uncertainty brought on to consumers by this pandemic.
The tech industry remains ever viable.
Growth in technology continues as innovations keep emerging and its value increases across different sectors in industries. More than ever, consumers and businesses alike are seeing the merits of technology to create solutions, even amid a global crisis. Because of technological advancements, many employees can work from home, consumers get to order essential goods and commercial products online, and businesses can operate remotely and reach their targeted audiences to a capacity. While tech-based operations are seeing tailwind growths during this time as well, they are still expected to continue bringing in practical use and entertainment value that makes it a substantial investment to look into.
With these guidelines to stick to, whether you are waiting it out until after the crisis dissipates or sorting out your opportunities now, you can be assured that you’re not just flushing money down the drain as you make your investments.