Len used to watch CNBC all day long, and always moan when the stock exchange had gone down. If he had been here today, he would have been complaining that we would never recoup the money. I would tell him that we have a portfolio that is extremely conservative, with safety the upmost priority. This wouldn’t calm him.
With more places, towns, cities, countries opening up, we all knew that Covid could affect the stock market. It’s all part of investing. I know that over the past 40 years our money has increased, to help with inflation.
So today it’s down, it might be again tomorrow, but at some point investors will start buying again, and it will start to rise.
It’s a double whammy as the British pound has gone down 6 cents over the past month. That doesn’t seem much, but when half your income is subject to the exchange rate, it can make a big difference.
I never worry over money, and never had. It always works out fine in the long run.