While the entire world battles a global health crisis , economies are also feeling the brutal affects of the coronavirus pandemic. Last month the stock market saw its 16th worst month for loss since 1915. As bad news about the coronavirus pandemic led investors to dump their stocks, the S&P 500 stock index reached its valley, 34% below its high from just a month earlier.
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The best thing you can possibly do is the thing I've always told you to do is.
If you aren't saving for your retirement in a Roth retirement vehicle, in my opinion, you are absolutely making one of the biggest mistakes out there.
You have to be very careful because when you switch the money you have into a Roth IRA you are going to pay ordinary income tax on that money.
I would probably wait to see if this market does another downturn, which it might.
This is not the time where you have $5,000 and you want to invest it and you invest all $5,000.
If you don't have the ability to purchase at least 25 individual stocks so that you can give yourself your own diversification, then you are far better off doing it via an Exchange Traded Fund so that at least you have your money spread everywhere.
I think you would be very pleased with if you dollar cost average into that over time.