Expert Ric Edelman explains how to invest during coronavirus pandemic

The coronavirus pandemic is far from over, so knowing how to deal with your investments is important, says top investment advisor Ric Edelman.

“This is ugly right now, and it is going to get much uglier,” he said, referring to the pandemic.

“My biggest concern is that most people have not come to terms with how bad things are going to get and how long this is going to last.”

The pandemic has yet to reach its peak in the U.S. When that will happen is unclear.

U.S. health officials have said that a vaccine ready for public use could take 12 months to 18 months. However, pharmaceutical companies are scrambling to come up with potential treatments.

Meanwhile, businesses have shut down and jobless claims have also soared.  U.S. lawmakers have responded with a $2 trillion stimulus bill to rescue the economy. It passed the Senate Wednesday night, and the House approved it Friday. It now heads to President Donald Trump’s desk.

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All of this has rocked the market — sending it plunging, rebounding and then back down again.

The Dow Jones Industrial Average hit its lowest level in three years last week. It then rallied, posting its biggest three-day gain since 1931 on Thursday. Despite those gains, the major averages were still more than 20% below the record highs set last month.

On Friday morning, stocks fell sharply again.

Edelman is telling clients not to change their portfolio, as long as they are properly diversified and have an appropriate cash reserve.

However, what you should do depends on your age and where you stand financially, said Edelman, founder of Edelman Financial Engines, ranked the No. 1 top registered financial advisory firm by Barron’s in 2019.

Young investors

If you are young, you have decades to recover, financially speaking.

“If you have a…

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