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Big Picture Retirement®

Coronavirus and Your Retirement

Big Picture Retirement®

Devin Carroll

News, Business News, Investing, Business

4.7546 Ratings

🗓️ 1 March 2020

⏱️ 24 minutes

🧾️ Download transcript

Summary

How does the Coronavirus affect your Social Security benefit and overall retirement income? In today's show Devin and John are covering the ripple effect and talking about what you need to do.

Transcript

Click on a timestamp to play from that location

0:00.0

The Big Picture Retirement Show does not provide specific tax, legal, or financial advice.

0:05.2

Listeners are encouraged to seek out their own advisors in these areas.

0:20.2

Hello everyone. Welcome to the Big Picture Ret retirement show. This is the podcast for anyone who is planning for or living in retirement. I'm Devin Carroll, joined by John Ross. Howdy? Hey, John. Welcome back. How you feeling, man? You know, so far so good. Oh, that's good.

0:37.5

I'm not sick. That's good. Me either. We've made it through the most of the winter here in Texas. No flu, no cold. Well, I did have a slight cold, but I don't typically get sick. But, you know, most importantly, to my knowledge, no coronavirus. Excellent. That's all that healthy living you do. It is. that good clean living.

0:55.2

Good clean living.

0:56.2

It pays off.

0:56.9

Yeah, absolutely.

0:58.0

You know, so let's talk about coronavirus for a minute. Okay. This has dominated the news. There's no question about it. I mean, this is what the news has been about for the last couple of weeks, but especially in the last week when they found out that it had spread to Iran,

1:13.6

it was Iran, Asia, I don't know, it spread somewhere and may not have all of those facts right.

1:20.6

But that was the first time that it had some unexpected spreading, right?

1:26.0

And so then they looked at it and, you know, investors all of a sudden started pricing this stuff into the market.

1:31.7

And so it made people start paying attention to what was happening for sure.

1:36.3

So starting back February 24th, I believe it was, which was a Monday, we've seen the markets drop nearly 12%. Yeah, it's going down. It has gone down.

1:48.6

Yeah, right now it's on pace to be the fastest correction we've ever had. I mean,

1:53.1

this thing got nasty in a hurry. I like how y'all use the correction. Oh, that's all it is.

2:00.2

It's just a correction.

2:01.0

It's a correction.

2:02.0

Yeah.

2:02.4

Does it make you as an investor feel better?

2:04.2

The best part about it is it's so ingrained in you that you said it without a pause.

2:09.8

You weren't searching for a good fluff word.

2:13.7

That fluff word was already built.

...

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