It has been over three months since COVID-19 was officially labeled a pandemic. And while everyone’s personal experience this spring is different, almost all of us who are invested share this in common: The value of our portfolios has gone down.
While it’s been a welcome relief to see the rebound of our portfolios in recent weeks, we still have yet to return to the highs we saw earlier this year, and there can be no assurance that will occur in the near future. Strangely, a down market and the response of the government to it has created potential planning opportunities that wouldn’t have otherwise been there. Perhaps that is a bit of good news in the midst of much bad news. Below are some things to consider, as summarized by a few of my colleagues:
- Take advantage of tax loss harvesting.
- Refinance your mortgage.
- Consider a Roth Conversion.
- Rebalance your portfolio.
- Take advantage of the CARES Act.