fbpx

Airports Showing Signs of the COVID-19 Economic Ripple Effect

The economic ripple effect from COVID 19 is easily visible when traveling through airports in the US, where it feels like a ghost town.This ripple effect is massive! I’m not sure how long things can keep going this way without more economic consequences.

My Experience Flying in 2020

I recently took a flight to Oklahoma from Detroit with stops along the way in Minnesota and Salt Lake City. One thing all of the airports have in common; no people. The rate of people currently traveling, compared to past numbers, has dropped significantly. Most of the terminals are shut down, leaving the airports operating at approximately 25%. All the restaurants, bars, and rental car lots were empty in most areas. The airport and all the businesses supported by travelers look completely abandoned. 

 

How Long is This Economy Sustainable

At this point, no one knows what’s getting ready to happen. If the airports are a sign of things to come, we should be prepared for the worst. The government has been pumping massive amounts of money into the economy, and that will only work for so long before we encounter more economic crises. People are not out spending money as they traditionally would, but you look at the stock market, and it’s at all-time highs. How is this sustainable and able to keep going the way that it’s going? I don’t know if it can or not, but I would not risk it if I were you.

What Does This Mean For You 

I don’t know exactly what will happen next in these turbulent times, but I do know this is an excellent time to get your finances in order. Get your money where it belongs so you can have a predictable experience in retirement. Get your own house in order, so you don’t have to worry about what’s happening with the market recovery or crash. It’s hard to believe in the near future that the market is going to be just screaming up unless they come up with a cure soon. Then the market could change quickly, increasing by 20%.  What does this mean for you when getting things in order? It’s not worth the risk! The market may go up 20%, but do you want to risk your financial future on what you think the market might do? Maybe with part of the money but certainly not with the main portion of your money. Your main money needs to be in the right spot, so you are prepared as the ripple effect fluctuates. 

Obviously, no investment, tax or legal advice is given in this content.  Investment, tax, and legal advice is personal and private.  Investment advice offered through Versaille Capital Advisors, LLC, a Michigan Registered Investment Advisory Firm.

Retire Happily is an educational resource. Make no mistake, we are a thriving financial firm that makes money. We are a financial firm that takes new clients. But first and foremost, we consider ourselves a significant resource to the public. If you don’t feel like you have fully exploited us for all the knowledge and insights we offer, do some more research. We provide these insights through Retire Happily, a free retirement resource guide that helps people optimize their retirement funds and avoid regret by making sure they are “all set” for retirement. 

At Retire Happily, you can ask questions, watch videos and read some things. We encourage you to explore a lot of material on the site so you can get an idea of our style. You will likely get a lot of your questions answered. If you still want to talk to us; you’re welcome to contact us. We are happy to answer your questions.

Get All the Latest Retirement Planning
Insights and Education in Your Inbox.

Coming Soon

Be one of the first to get your copy by pre-registering for the book.

retire happily book

Get all the latest retirement planning insights and education in your inbox.