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How to invest wisely during the Coronavirus meltdown

Don’t become a day trader

Unless you are already a professional trader then don’t be tempted to become one overnight. When markets are swinging 5-10% on a daily basis at the height of volatility, stockmarket bargains undoubtedly surface. It is however very dangerous to predict short-term movements if this is your strategy to make money. Trying to time the market often ends up disastrously, instead – maintain your original strategy and don’t try and rely on making short term gains.

Review your portfolio

The best long-term portfolio is one that is diversified across asset classes such as stocks, bonds, cash and property as well as being spread geographically, not being solely reliant on one economy such as the UK or US. To do this, it is worth using the services of a financial adviser or wealth manager who will be able to properly assess the suitability of any existing investments that you hold in line with your chosen objectives. The adviser will also be able to make new suggestions as (s)he will have resources to do so as they often work alongside large institutional fund management companies. The key is to make sure you have sufficient diversification to not only make money over the long term but to also add some protection against short term fluctuations.

Finally, with any such news there always comes fraudulent, scam investments varying from suggesting investing into a company that has found a cure for the virus to attempts to simply asking for charitable donations. Such cybercrime is rife and should be avoided at all times. The World Health Organization (WHO) is among the most-impersonated authorities in ongoing scam campaigns. An example is when fraudsters pretend to offer important information about the virus in an attempt to get potential victims to click on malicious internet links. Typically, such links can install malware software which steals your personal information. The key is to remain safe with your health and your wealth.

Other News

Abandoning the ‘Lottery Mentality’

Lottery ticketNearly everyone dreams of winning the lottery and sailing into their sunset years of retirement aboard a superyacht of financial freedom and security. The problem is, however, that simply buying a lottery ticket is very unlikely to result in anything other than the needless spending of your hard-earned money.

In fact, when you buy a Euromillions ticket your chances of winning the jackpot are just 1 in 139,838,160* – you are almost certainly more likely to be struck by lightning or involved in a road accident while on the way to buy your lottery ticket than of winning the jackpot.

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Expats can appeal EU Referendum Act decision

Ballot BoxGood news for British expats who are hoping to prove that the EU Referendum Act 2015 unfairly discriminates against them and their decision to exercise their right to freedom of movement in the EU; they have won the right to launch an urgent appeal against the decision to not grant them a vote in the European Union referendum.

The move comes after Lord Justice Lloyd Jones, sitting with Mr Justice Blake at the High Court in London, earlier ruled that section 2 of the Act did not restrict their rights.

The appeal, which is being led by two British expats, is motivated by a desire to prevent Brexit; an event which would unduly affect the lives of the two million British expats who, should Britain leave the EU, face the possibility of having their lives severely disrupted, together with their plans for their expat regular savings. In fact, according to lawyers representing the expats, they face becoming “resident aliens”.

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