While we are not in the “business” to talk about stocks, as we are not a stockbroker by any nature, we wanted to at least mention it as there is a lot of chatter about it right now. Do not take our advice or our counsel by any means. We just wanted to give you something to think about. Because of everything that has been going on lately, there are a great number of stocks that are incredibly cheap. There are even some people who are suggesting you refinance your mortgage and use the profit to purchase stocks. (Again, we are not recommended you do that. We are making you aware of what the chatter currently is.)
As the days go by, the market continues to drop. These are unprecedented times where many things are happening that have never happened before. For example, no sports games, concerts, movies, etc. are currently happening. With all of this happening, there will be economic consequences for all of these events. The exact consequences we do not know yet. Since there is so much unknown, we do not feel comfortable telling you what to do with your money.
What is actually going to happen (and stick) may wind up taking a long time. There is no timestamp on this. No one knows when the end is. The reason that is important is because it means that there may still be fluctuations with what goes on in the stock market.
Whatever you decide, please look at both sides of it and make sure you are making the best educated decision for your family. Do not take anyone at face value in what they say or suggest to you. Do your own research and ask a lot of questions!