Episode 130: Let’s Talk About Retirement, Market Swings and Election Fears

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Today’s Smart Money Question:

Between the coronavirus, market swings and upcoming election, people have been calling our office with all kinds of investment and retirement questions and fears. Let’s talk about some of these common concerns. 

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(Click the featured times below to jump forward in the episode)

Here Are Just A Handful Of Things You’ll Learn:

In the past few months, people have been calling our office with all kinds of investment and retirement questions. Many of the questions are based in fear – fear of the coronavirus, market swings and the upcoming election.

Today on Smart Money Questions we discuss some of these fears and how you should handle them.

We heard from a man who is 64 years old and planned to work until he was 66 or 67. He was going to get serious about financial planning in a year or so but decided he wants to leave work sooner because he is fed up with his boss and worries about the upcoming election.

Unfortunately, this man is behind the eight ball already when it comes to retirement planning. There is so much you need to be considering when making financial and life-changing decisions.

We like to put clients through exercises to help them make good and educated decisions. First, we look at where your assets are and what kind of risk your money is taking. It’s important to diversify and make sure you have different risk buckets. Next, we come up with an income plan and figure out health insurance and investment strategies.

The most important thing is not to make emotional, fearful decisions.

Listen to the full episode or click on the timestamps below to skip to a specific section.

3:00 – Get serious about financial planning

8:22 – Don’t make emotional, fearful decisions

12:03 – How are you going to pay for health care?

15:22 – Which account should I withdraw from first?

19:44 – Where are we putting our investment monies?

21:44 – How to contact us

 

“We’re not being fearful. We’re not immediately selling and going to cash. Many people have done that.”

-Matt Hausman

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