The year 2020 has come with a lot of news and challenges that have affected the economy: Covid-19, Presidential Transition, and a recovering economy from the pandemic. Now there have been more news this year but the most economic influences, in my opinion, are these. We saw that a huge dip in the stock market when it forced shutdowns and more people were working from home. Plan for an economic recovery.
With the market, you have to keep an eye on what’s influencing the market. In a previous article, I wrote about staying up to date and doing your research as steps to ensuring you have the right investment. In the same article, I wrote about during the pandemic that I saw technology was going to have a huge impact especially with the increase in remote work and remote schooling.
Since March, we hit the bottom and the markets are recovering. With recent news of a potential vaccine , this is good news. Tech stocks surged during the pandemic as teleworkers increased. With a vaccine in sight, I believe that the economy will recover. I also believe that the way we work will change, meaning that teleworking and remote learning will become more available.
I kept my investments through this period and, yes I experienced a loss. However, I increased my investments in tech stocks because I knew we would be leveraging technology more and more. I am positive with my tech investments. So, the question I continue to ask myself…is it still safe to invest? Especially during the pandemic, a presidential transition, and an economy trying to recover. I believe that it’s still safe to invest.
A vaccine will come and once it’s safe and readily available, the economy will open back up. Once that happens, you’ll see the economy continue to rise. What will life be like and what will the new normal be? Only time will tell but I believe it’s going to include a mixture of technology and increase telework.
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