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Money Guy Show

Coronavirus And Your Finances: We Answer Your Questions!

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Investing, Business

4.73.1K Ratings

🗓️ 18 March 2020

⏱️ 73 minutes

🧾️ Download transcript

Summary

COVID-19 is on all of our minds. We are all concerned about the health of our loved ones, and the volatility of the financial markets is not helping to ease everyone’s anxiety or nervousness. Our goal is to keep you updated and be a resource as we all work through these difficult times. We recorded a special Money Guy Q&A show that specifically addressed what we are facing. A few of the questions that were covered include: Why don’t we go to cash, let things calm down, and then get back into the market?  How can we be sure that markets will recover? Is this downturn and bear market different? For more information, visit: https://www.moneyguy.com/2020/03/coronavirus-and-your-finances-we-answer-your-questions-askthemoneyguy/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Wow, what a difference a week makes. Yeah, it's um, I mean

0:04.0

Just to let you guys know you know the money guys show we want to be your source for

0:08.6

Good financial information

0:10.4

We also want to entertain you because sometimes money you can get lost in the weeds with it

0:14.2

But I knew we had an issue bow when even creating a thumbnail for this special question and answer show

0:21.1

We didn't have anything that reflected because we're kind of fun loving guys

0:24.4

And you know, we didn't have anything that reflected that so it showed me that man

0:29.6

This is when you're looking for thumbnails that reflect the time that you're in it shows what unique periods because just think about the week

0:36.5

Has just changed so much schools are now out and we're gonna be doing remote learning. We've got travel restrictions

0:42.6

Yep, you know globally who knows if it's gonna happen do any impact domestically both of us weren't even supposed to be here this week

0:49.5

We're supposed to be traveling the grocery stores

0:51.9

I mean, we're seeing fortunately it looks like you can still get a lot of supplies

0:56.4

But toilet paper cleaning supplies things like that

0:59.7

I mean every grocery store I've been in has you know stated policies now to keep people from hoarding and then social distancing has now hit

1:08.0

Our vocabulary. Yep. It is one of the things so we want to be serious about this because this is um

1:13.3

We know this is one of those times. We'll look back. They'll be talking about this 50 years 100 years from now

1:19.1

They'll be books written about this. There will be after action reports talking about this

1:24.6

So a lot of you guys and it does deserve to have the level of action we're taking because

1:32.3

People's lives are at stake especially our parents our grandparents

1:36.5

Anybody who's in that dangerous zone or has underlying health issues

1:40.7

That is this is serious business and that's why I would encourage everybody

1:45.2

We're go we're go focus on the financial things you need to consider but I do encourage everybody

...

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