We\u2019ve been through the wringer and a lot of locals are yearning to get back into a routine.
\nAustralia has made good progress stopping the threat of COVID-19. Consideration is now firmly focused on re-opening the economy. The health risks are easing but the economic risks are rising. It is a case of finding some balance.
\nThe worst-case scenario for the public and share markets appears to have been avoided. And the government now has more options to provide stimulus if it needs to. A small $60 billion \u201caccounting error\u201d regarding JobKeeper cost estimates makes this possible.
\nFor the local share market, the ASX 200 peaked at 7,139 on February 21. The vicious sell-off after the spread of COVID-19 across international borders was a frightening site for many hard-working Australians. Not to mention those contemplating retirement.
\nWe eventually bottomed out at 4,546 on March 23 making it a 36 per cent drop from top to bottom. This was not the time to panic. It was the time to keep a cool head as we\u2019ve seen many times before with short-term market volatility.
\nThe market has now steadied and looks headed for 6,000 points. This is a much more digestible drop of 16 per cent from peak to trough, with more good news on the way as the economy kicks back into gear.
\nIf you\u2019d like more clarification on your current financial situation or how COVID-19 and share markets may impact your retirement plans then please don\u2019t hesitate to give Muirfield Financial Services a call on 5224 2700.<\/p>\n","protected":false},"excerpt":{"rendered":"
Those familiar winter activities such as heading to the pub for a drink with friends or watching a game of footy are going to be a welcome sight as COVID-19 restrictions start to ease. We\u2019ve been through the wringer and a lot of locals are yearning to get back into a routine. Australia has made […]<\/p>\n