Building wealth isn’t always a smooth journey. Right now, as many Americans face the financial impacts of COVID-19, the road to recovery may seem daunting – or even impossible. However, the way investors have dealt with financial challenges in the past may shed light on how people could recover from the financial repercussions of COVID-19. According to a new study from Ameriprise Financial which was fielded in January of this year, more than 75% of investors had experienced a financial setback such as market volatility and job loss and over 50% of those who’ve faced one say their biggest setback cost them $50,000 or more.
The good news is that 9 in 10 have recovered financially from those past setbacks. How did they manage to get their finances back on track and what was the key to their success, you ask?
Marcy Keckler, Vice President of Financial Strategy at Ameriprise Financial is sharing unexpected life events, both positive and negative, that can cause financial setbacks and explain how investors have managed to overcome them, and how to get your finances back on track.
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