The past week has been undeniably challenging.
Unless you’ve been living in isolation for the past seven days, you’re likely aware of the ongoing and violent conflict in Eastern Europe. News reports and footage from citizens have depicted the distressing devastation in Ukraine.
Before delving further, I want to extend my heartfelt compassion, concern, and sympathy to all those affected by the violence. I am fortunate not to have experienced the fear of an enemy invasion, and I can only imagine the monumental struggle that comes with it.
However, the invasion of Ukraine has sent shockwaves worldwide. For many Americans, concerns have arisen about the role the United States will play. Will there be intervention, potentially escalating into another world war?
Beyond these concerns, there’s the realization that an event of this magnitude could have economic repercussions globally. How might this impact the stock market and the U.S. economy? Shortly after the invasion, various influencers in the personal finance community took to social media and blogs, offering advice and historical perspectives on how the stock market has reacted to wartime situations. Some influencers advised against panic-selling stocks and encouraged followers to stick to their original plans.
As swiftly as the economic commentary emerged, so did the backlash. Comments flooded in, questioning the humanity of certain influencers and criticizing them for discussing money while people are facing life-threatening situations. While I won’t mention specific names, assuming you’re part of the personal finance community, you likely witnessed some tense exchanges on social media.
This raises a fundamental question: Is it immoral for people to be concerned about their finances when others are suffering in a war-torn country? This question is posed without irony or snark, seeking an open dialogue to foster mutual understanding.
To be honest, when news broke about the imminent invasion, I felt a pit in my stomach, thinking about the potential impact on my investment portfolio. Is this instinctual self-preservation something to be ashamed of? In this scenario, when is it appropriate to assess and act to minimize losses? Moreover, how can financial influencers educate their followers during a crisis without appearing exploitative?
