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Good morning CVELU, Australia’s leading finance experts are sharply divided on how to protect wealth during the current economic crisis, with strategies ranging from aggressive market positioning to doing absolutely nothing.
The money gurus, which include Barefoot Investor Scott Pape, ASX Trader David Bird, Noel Whittaker and Compare the Market’s David Koch have revealed the
money moves they’ve made as costs soar.
Some have ruthlessly cut non-essential expenses and shopped around for better insurance and mortgage deals while others are continuing to invest in the stock market, viewing it as a major opportunity for defensive stocks.
They’ve implored Australians to avoid panicking – with Pape saying he was resisting checking his nosediving superannuation and stocks and instead holding firm that his long-held strategy to build a financial foundation for emergencies will see him through. The experts say Aussies should avoid making big financial decisions and taking on debt during the downturn.
Read what the finance experts are doing to protect their money.
MoreHave a good day.
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