How Can the Russia and Ukraine Conflict Impact Your Finances?
The impact of the Russia-Ukraine conflict is far-reaching, with implications for geopolitical, social, and, of course, economic matters; in fact, the conflict is so widespread that it will find its way into your pocket. (unfortunately)
It has sent stock markets throughout the world soaring and also raised concerns about personal finances. (Which have already been strained by rising prices as a result of the coronavirus pandemic for many people.)
There are a lot of things that do impact you as an individual investor, and as a personal household as well.
- Higher gas prices
- Hiked grain prices
- Increased crypto volatility
- Stock market dips
- Increased gold prices
Because we live in such a globalized society, it has consequences all over the world. And we should be aware of how this war affects us so we can weather this economic storm together.
However, the situation is obviously quite fluid, and it can change within a 24 hour period. And, for the most part, you're not going to make many significant adjustments to your personal financial decisions as a result of it.
Two Strategies You Can Use to Counteract It
From an investment standpoint, here are couple of things you can do:
1. Profit from rising commodity and energy costs
Allocating more funds to energy, such as natural gas and oil, can help offset any price increases.
2. Managed Futures Account
For example, those which can profit from stocks, bonds, currencies, and commodities, both long and short.
Here are some great resources to learn more on the situation that we’ve found helpful:
If you have any questions, please don’t hesitate to reach out!