56 min listen
158: Coronavirus and Your Money
FromLove, your Money - Wealth, Money, and Financial Advisor for Women
158: Coronavirus and Your Money
FromLove, your Money - Wealth, Money, and Financial Advisor for Women
ratings:
Length:
15 minutes
Released:
Mar 4, 2020
Format:
Podcast episode
Description
In this short episode, we’re talking about what’s happening in the stock market in the aftermath of the coronavirus outbreak. Unfortunately, the coronavirus (COVID-19) is here. My heart goes out to all of the individuals, families, communities and countries that have been affected. Many of us remain on high alert, myself included, because we are the parents or children of immune-compromised individuals who are especially susceptible. The purpose of today’s episode is to help you make sense of what’s happening in the investment markets recently and in the near term future, so that instead of focusing on your money, you can keep your focus on remaining healthy. It’s definitely true that companies that depend on global travel and complex international supply chains could be in serious trouble. But how will this outbreak affect you and your money? If you’re invested in the stock market with a diversified basket of investments designed to serve your needs and meet your timelines, your accounts are probably down. As you watch values drop, it’s easy to get scared and think to yourself, “Wow, I need to sell before this gets worse.” That’s a normal feeling, and I experience it too! However, trying to time the market is what the best investors in history have called the loser’s game - and I explain why in today’s episode. It’s important to note that temporary declines are not rare. Since 1927, there have been 158 2-day periods where the market has declined 4% or more, 49 2-day periods with a decline of 6% or more, 15 2-day periods with a decline of 8% or more, and 5 2-day periods with a decline of 10% or more. Further, the S&P 500 is higher now than it was after downturns following past outbreaks like SARS, Avian Flu, and Zika. So, have no fear, this too shall pass! Beware media magnification! If you rely on the national financial news media for financial advice, they’ll have your emotions whipsawing. I design Profit Boss® Radio to be your voice of rationality and even-handed, evidence-based wisdom. If you want to better understand what’s going on in the markets and make better sense of the story the media is trying to spin right now, you don’t want to miss this episode. Tune in to Profit Boss® Radio today! Here’s what you’ll find out in this week’s episode of Profit Boss® Radio: What the coronavirus is, who is at risk, and why it is impacting the markets so significantly. Why watching the markets go down right now could be an unfamiliar feeling - and why pulling your investments out is a surefire way to lose money. How the media assigns causality to market events, and why no one really understands why the market moves when it moves this fast. Why predictions have so little bearing on the stock market - and why risk is already reflected in stock values. How to remain calm and confident that the markets will recover. Follow Hilary on: Twitter LinkedIn Instagram Facebook YouTube Subscribe to The Retirement Years on Profit Boss® Radio Apple Podcasts Overcast Spotify Stitcher Google Podcasts
Released:
Mar 4, 2020
Format:
Podcast episode
Titles in the series (100)
Ep 3: Amanda Steinberg on Financial Confidence, Wealth and Growing Your Daily Worth: Today, Amanda Steinberg, CEO and founder of Daily Worth, joins us on Profit Boss® Radio to share her incredible journey. by Love, your Money - Wealth, Money, and Financial Advisor for Women