The current contagion has been keeping us warm inside another bear market. Staying in our separate quarantine bubbles, panic and fear could be smothering us every day. How do you survive and thrive amid the Coronavirus?
In this episode, Bob and I will reveal the three most vital action steps you need to be taking right now to handle the volatility in the market. We’re going to address the biggest financial concerns based on the volume of questions we are receiving from our listeners & clients.[spp-player url=”https://nopaynenogain.podbean.com/mf/play/yg7jt6/NPNG_043_-_Coronavirus_Portfolio_Survival_Kit.mp3″]
For our spotlight segment, we have our star Financial Advisor, Frankie Lagrotteria. Find out how she helped get a newly retired couple on the right path right before the prevailing market decline.
We’ve got a great show here, so tune in to the No Payne, No Gain podcast now!
Financial Propaganda of the Week
Media has never been this insane for a long time. So we scour the daily financial news to find you the best and worst advice. Here are some of those we can call either good advice or terrible offenders of financial propaganda:
[04:18] – Some predict that the market will go lower than it was in March 2020.
[06:11] – Investing is about growing assets and not listening to bond fund managers making predictions about the stock market.
[07:54] – Barron’s Why the Stock Market Hasn’t Hit Bottom and Could Fall Another 35%.
[09:23] – Fixed income and strategy are vital in your portfolio. You need the discipline to focus on your goals for your portfolio and not on what the media is trying to tell right now.
Three Steps to Survive and Thrive in a Bear Market
The truth about bear markets is it can be brutal when it hits. Here’s how you can thrive, not just survive, in the current market crash.
[13:46] – Always stay invested. No matter how intriguing it is to back out, never do so because it’s harder to get back in the game.
[15:39] – One of the big advantages of owning stocks over the long term is dividends.
[17:24] – Rebalance your portfolio by having high-quality portfolio bonds, not bond funds.
[19:27] – Be diversified because we’ve learned that when you’ve had a bear market like this, whatever was doing well before the bear market isn’t necessarily the best place to be after the bear market.
Today’s Top Financial Concerns
We’re seeing a huge surge in questions from clients and listeners over the past couple weeks with regards to what they should be doing with their finances right now. Here are our top picks and tips!
[24:33] – Should you make changes to a traditional financial strategy? Should this virus become seasonal and reoccurring?
[26:11] – If you’re expecting tax refunds, what is a good strategy or time to add funds to investments versus savings?
[27:06] – If you’re in your mid-60s, have worked a lifetime for your savings, how do you still know if you’re going to be okay?
[28:47] – With the market down, is this the best time to take some of my money enrolled in a Roth IRA?
Major financial decisions are concerned during a crisis. Because of that, we get questions about investments coming in. We’ll be happy to answer them for you, simply send us an email at email@example.com.
[36:41] – Question #1: “When the 2008 downturn hit, my previous advisor said, ‘Don’t worry, it’s only a hiccup.’ Well, that hiccup took 40% of my investment. Now, this seems worse. What say you?”
[38:50] – Question #2: “Is there a difference in the end between spending dividends and selling shares, whether in a bull or a bear market?”
Since we are all in quarantine, we’ve been going through portfolios through Zoom calls and a secured email. Today, our Financial Advisor, Frankie Lagrotteria breaks down for us how she got a couple out of a black hole before a market decline.
[48:04] – The couple retired in January. They had a lot of cash on hand and their money was heavily invested in the large-cap stocks.
[49:44] – The big thing we did for them was to get them into individual bonds. We also diversified their portfolio because they need some income, and they’re not getting it from bonds, cash flow or cash that they had sitting in the bank. They need it from their equities.
[50:59] – The takeaway from this is it is so much easier to make decisions about a portfolio when it’s based on your goals and a strategy as opposed to our ability to see the future. Also, always take the emotions out of it.
“Diversification is the only way to succeed.”
To download 5 Ways to Maximize Your Retirement Accounts and Save on Taxes in 2020 and the Highlights from the new SECURE Act, text BULLISH to 555888.
If you have saved over $500,000 for retirement and need a plan based on your retirement goals, Bob and Ryan will create a 360 Financial Portal just for you! Text or call 844-752-6692 to check out the 360 Financial Portal with no strings attached!
Contact us for a consultation with our financial advisors to start a personalized plan
IMPORTANT DISCLOSURE INFORMATION
Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Payne Capital Management, LLC), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Payne Capital Management, LLC. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Payne Capital Management, LLC is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Payne Capital Management, LLC’s current written disclosure statement discussing our advisory services and fees is available for review upon request.