COVID-19 Market Commentary

GAS LOCAL 18007 UNION MEMBERS

CORONAVIRUS MARKET COMMENTARY

March 27, 2020

My name is Ted Soltys with Equitable Advisors. As some of you may know, I am your union

appointed financial professional.

The events of the past month prompted me to reach out to the board and offer some advice

and direction to membership.

First off, in my 30+ year career I have experienced 4 major market corrections.

One common theme has always been fear and uncertainty. At times I felt more like a psychologist than a financial professional.

So, what advice can I give?

1) If you are 5 years or more away from retirement try not to panic. The markets can recover.

2) If you have been maintaining a portfolio that is conservative, consider reallocation into additional equities. The stock market is now a 25% off SALE!

3) Be careful of bonds as a “safe haven.” If interest rates go up, you may not be happy with your portfolio.

4) Your 401K plan is an excellent tool to buy equities at a discount. Consider increasing your deductions.

For those of you who are close to retirement it can be especially challenging. What do I invest in?

Will I run out of money? Interest rates are so low etc.!

It is important to know that programs exist today that help retirees deal with the common fears such as “will I make it, and how do I protect against market declines?”

I would like to close by revisiting a bit of financial history. As a young professional in 1987, I lived through “Black Friday.” On October 19, 1987 the market dropped 22% in one day. Much like now there was fear, panic and uncertainty. My advice then is the same as it is today. Have FAITH in the market! Have FAITH in our country; the greatest free-market in the world! Unfortunately, many people did not have faith and they sold out. Here is the amazing part of the story. By the end of the year investors who did not panic and STAYED invested were rewarded. The S&P 500 finished the year up! The bond market not as good!

So, all my friends out there: “Buy a little stock today!” Be part of the solution not the problem.

Sincerely,

Ted J. Soltys, Jr.

Financial Consultant

Mobile 630-854-5068

“More people have died climbing DOWN from Mt. Everest than going up.”

PPG-151852 (3/20) (Exp. 6/20)

Equitable Advisors is the brand name of AXA Advisors, LLC (member FINRA, SIPC).

Securities offered through AXA Advisors, LLC (NY, NY 212-314-4600), member FINRA, SIPC. Investment advisory products and services offered through AXA Advisors, LLC, an investment advisor registered with the SEC. Annuity and insurance products offered through AXA Network, LLC. AXA Advisors and its affiliates are not affiliated with the Gas Local 18007 Union.