We are all hoping for the economy to do well but many businesses have closed to never reopen due to this pandemic. These closed businesses are mostly small ones but several biggies have filed for bankruptcy too so it is more or less across the board. If you;'ve been fortunate enough to reopen and have some reasonable return of clientele you are indeed lucky. We may or may not get a vaccine soon so I recommend austerity putting aside some rainy day money. That won't be easy if you have past due bills to pay etc., but considering your reserve account a bill is the way to go. Whether every week or month make a reserve account payment of 1% 2% or as much as you can while maintaining ongoing overhead. In case you get shut down again or business just languishes never quite getting back to full swing, you'll have some funds to fill the gaps.
Hedging like this is a safety issue. I've recommended some personal hedge against the US dollar collapsing and inflation roaring back by holding some gold or silver. If you have a 401K or other retirement account consider placing 25% or more in GLD or SIL which are ETFs for GOLD and SILVER respectively. YOu can also buy and hold physical gold and silver. One ounce Silver Eagles are still affordable and many local coin shops sell single coins so no need to buy 100 like seen on TV ads.
Times are not good but they will improve in time. The nature of the US Debt is serious stuff so I expect we'll have a different big picture when interest rates must go up again. This zero rate is not normal so I don't expect it will go on for too long, maybe a few years. Politics will make a difference too though I suspect either party will spend like drunken sailors. Plan ahead and hedge your bets.
If you need anything just call. I am glad to help.
Best,
Donn Marier
DM-Your Own CFO