Debt is a word that has found its way into many households and companies since the beginning of the coronavirus pandemic. 

Indeed, investors and businesses struggle to make sense of the new situation. Many are forced to shut down their companies or slow down productions, wondering if they will ever bring their business back to success. And investors keep an eye on the stock exchange market, watching it sink a little deeper every day. In short, the financial situation is volatile. 

When the news is positive, your finances are up. But the next day, COVID-19 finds new ways of tormenting us, and your luck is down again. Therefore, you are probably wondering if you will be able to protect your wealth in the long term. Things look bad for now. In reality, being in the red doesn’t mean your budget will be stuck in there forever. 

Some things are bound to be affected by the pandemic

If you’ve been building an investment portfolio, you might be considering letting go of some of your assets. In reality, now’s not the time to panic-sell your assets, whether on the stock exchange market or property market. For landlords, especially, it’s all about being patient and letting the storm pass. There is a silver lining to every cloud, and when it comes to real estate, you need to keep a calm mind. Your tenants may not be yet in a position to honor their rental agreement if they’ve suddenly found themselves without a job. But with the help of mortgage payment holidays, you can keep your tenants while skipping the rent. Why does it matter? Finding new tenants is time-demanding and expensive. Besides, you can refinance your mortgage, which can free up some capital. 

There’s always an investment guru

If you’re going to recover your investment portfolio or your business, you need an investment expert to guide you. Someone such as Gurpreet Chandhoke successfully brought companies with $millions and billions of debt out of bankruptcy in record time. If you run a large organization, his professional investment management experience is precisely the type of help you need. For independent investors and small business owners, there will be another investment expert out there. The key is: if organizations with debts bigger than yours can recover, so can you with the right support. 

The importance of putting people first

Business owners are the first to worry as their debt also affects their team. We can all learn a valuable lesson from El Salvador as the country is taking unique measures to protect its population. The authorities have decided to suspend payments for energy bills, mortgages, credit cards, and telecoms, among other services for companies affected by the pandemic crisis. As a result, each business can regain stability. You can reach out to your creditors to discuss similar delays on your payments. While payments due are not canceled but simply postponed and spread across several months or years in the future, the process could help keep your team employed. 

As the financial situation changes every day, it is difficult for companies and individuals to establish a debt recovery plan. But, for the time being, your energy should focus on protecting your assets as an investor and business owner, and reaching out to the relevant financial experts. The bottom line is that you won’t recover overnight. But, right now, you need to establish a solid foundation to build toward a successful future.