First Covid-19 Case in San Diego

KPBS has reported that the first case of a San Diego resident with the novel coronavirus - COVID-19 - was confirmed. Apparently, this case is considered travel-related. Reportedly, it is a woman in her 50s who is being treated at Scripps Green Hospital.

Relatedly, some of the passengers on the cruise ship Grand Princess, which has at least 21 cases testing positive for the coronavirus, will be arriving to the Marine Corps Air Station Miramar. The cruise ship has docked in Oakland.

Significantly, the World Health Organization (WHO) has declared COVID-19 a global pandemic. There are more than 125,000 confirmed cases around the world, and over 4,000 have died. The novel coronavirus is affecting all continents except Antarctica, and is spreading very rapidly in Asia, Europe, North America, and Australia in particular. Because this virus is very contagious, efforts are underway to isolate and contain it as much as possible. The entire nation of Italy is under a lockdown right now. Regular handwashing with antibacterial soap for 20 seconds, as well as not touching one's face or mouth, can prevent its spread.

The economic toll has already been significant in San Diego and nationally. Because of the dangers of flying and going on cruises, airlines and cruise lines will suffer massive financial losses during this pandemic, and will likely need assistance from the federal government to continue operating. The stock market has plunged 20 percent, evaporating trillions of dollars from the economy in a matter of days. The Centers for Disease Control and Prevention (CDC) recommends against nonessential or leisure travel, particularly among those over the age of 60.

With panic set in the financial markets, a financial advisor can provide peace of mind to those who are retired or planning for retirement. Depending on your goals and financial condition, a financial advisor will establish a gameplan for you that meets your needs and will help you cope with market colatility. Jason Groth is an experienced financial advisor who is available for a consultation in the San Diego area.

During these trying times, it is important that we remain level-headed and take the necessary precautions to avoid getting infected with this virus. We must communicate with our family, friends, and neighbors, and plan in case of an emergency. It is important that we remain rational and not panic. It is a good idea to stock up on essential items, such as medications and vitamins, in case you are under lockdown and your movement is severely restricted.