Ever since the Corona Virus stung the world fresh with its poisonous fangs, the world has been bleeding. Many things have changed and new norms have been accepted. United by a common enemy, the whole world has shelved common agendas such a climate change, terrorism, and geopolitical tensions among other things.
Major and minor economies are all concerned with surviving the unprecedented times. What best measures can be put in place to protect job loss? How best would the massive population across the globe be protected from the virus? It has been a mess. Economies have halted all their activities, cessation of movements implemented among other containment measures. Luckily, these measures have worked in the economies where it all started. The infection curve has flattened and eventually, infection rates have slowed. The reopening of these economies is bringing back to life the economic activities previously shuttered. Back home, we can only hope.
One thing that has become certain with this pandemic is that no one can predict the future with certainty. It is completely impossible. When we all hoped and chanted that 2020 is our year, boom! Everything came to a standstill. Slogans like social distancing, wearing face masks, using hand sanitizers and quarantine became the new norm. In the investment arena, investors rushed to sell off their assets and one thing became common- cash is the king.
Yeah. Cash is king. During unprecedented times the only hope is liquid cash. At least with that, you can afford the good and services that on most cases either price go up, or the supply is distorted completely. That can give you the hope of enduring even for some few more days.
That said. One thing stands out. For you to have the cash (the king) you must have made it somewhere. You must have saved it before. You must have invested it some few years before. Unfortunately, this is what most people don’t do in our economy. We rarely save. Only a handful invests. Even our government spends a whopping amount of the budget on recurrent expenditures. That leaves us in a tight corner when things are going south.
Most people don’t invest either because they don’t know where they can put their money, or still
because they think it is a preserve of the rich. The truth is, it’s only by investing that you can increase your chances of being rich.
In my subsequent columns, I will be sharing asset classes in which you can invest to make the king. As
they say, if you don’t make money, you don’t make sense.
Mike is a Commerce graduate, Specializing in Finance, Currently A stock trader at Investax Capital(Appointed SBG Agent). Full-time Forex trader and a passionate financial advisor and enjoys observing analyzing and penning thoughts around, markets, economy, personal finance and money at large