Coronavirus – Managing Your Portfolio in Times of Financial Crisis

(00:09) Hi, it’s Raffi from Manly Financial Services. By now I’m sure you’re sick of all the coronavirus updates. We’re seeing share markets around the world just plummeting over the last week, with the Australian share market, the ASX 200 down over 20% taking this back to 2017 levels. We’re also seeing the Dow Jones, the US market falling again over 20%, effectively wiping out all the last year’s gains. We’re seeing incidents rates across the world increase and I think we’re only going to see more of an increase in Australia as the next few weeks progress and our day to day lives will be disrupted. From a financial perspective, this disruption will lead to an economic downturn and possibly a technical recession in Australia as many commentators are predicting.

(00:52) You can say central banks and governments all around the world announcing, actively announcing measures to try to counteract this economic downturn, try to get their economies going again. On this blog, I’d love to explain five things that we can do to reduce the effects of this market correction on our portfolios, our super funds, our retirement savings and our pensions. There are probably more than five things that can be done, but these are the five issues that I think should be front of mind.