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What Is the Biggest Financial Regret Since the Pandemic?

What Is the Biggest Financial Regret Since the Pandemic?

The COVID-19 pandemic has affected the markets and economy like few single events in recent history. Everything changed after the pandemic hit — markets turned from bull to bear, entire industries were obliterated, millions of jobs were lost, and the U.S. plunged into recession. Of course, that all takes a backseat to the devastating health effects and tragic loss of life it has caused.

It came upon Americans so fast and so furiously that few had time to process the financial implications. But roughly six months later, people have had time to reflect, and there is one major regret. A new survey by Allianz revealed that 52% of Americans regret not having more of their savings protected from market loss.

Woman pulling up shirt collar over her face

Image source: Getty Images.

While the market did bounce back and recover all of the losses within the next six months, the U.S. remains in a recession and there are concerns about a tech bubble or another crash. Investors who are concerned about more volatility in these uncertain times should take this opportunity to review their portfolios, while keeping one key point: that markets have always bounced back to produce strong performance in the long run.

Long-term, the numbers are on your side

The type of volatility we saw this past spring is a hard thing to stomach for many investors watching their portfolios drop 30%, 40%, 50%, or more in the span of weeks. But it provided a great example of why it is so important to ignore short-term fluctuations and stay focused on the long term. From the low on March 23, the S&P 500 has gained back all of its losses and then some — as it’s now up about 6% year to date. If you sold out of some stocks or investments at the bottom, you

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