Coronavirus: I Want to Reallocate

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 8 June 2020

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Have you learned anything about your investments these last few months? Maybe that you're too conservative? Or that you're too risky and probably need to peel back some of the risk? Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Coronavirus Market Update. It is Monday, June 8th.
0:09.4	Thank you for someone who wrote in who said I need to time stamp it and also give you the date.
0:15.8	It is time to take a deep breath, start your work week, and hopefully allow us to walk with you through this crazy time and answer any questions
0:27.9	you might have.
0:29.2	So if you've got a financial question, send us an email, ask Jill at Jill on Money.com.
0:34.7	That's what Larry did, and his subject is asset allocation.
0:38.5	Okay, Larry says, I've been retired for three years.
0:41.9	I collect a monthly pension no significant debt I've got an
0:45.5	account with Vanguard which is worth about 1.4 million dollars whoa that's a nice number
0:51.5	Roth IRA 880,000 emergency fund 130 grand in cash.
0:57.0	My asset allocation is about 60 to 65% stocks, 35% bonds.
1:04.0	Question, because of the COVID-19 nightmare, tremors in the stock market, and as a retiree,
1:09.8	I wanted to back off the equities.
1:12.0	I want to change the asset allocation to 20 to 25
1:15.5	percent in equities. The remainder in the brokerage 50-50. Similarly in my Roth I
1:21.0	want to change my allocation is my proposed asset allocation. in my
1:23.2	proposed asset allocation is my proposed asset allocation to conservative.
1:26.2	Okay, let's think about this.
1:28.7	If you have a monthly pension and that monthly pension covers your needs, your actual income needs, then you don't have to go
1:37.5	too crazy in terms of making big changes.
1:41.0	But if you are now in this mode of I don't want to go through that again, that I understand, but you must, must, must, make a pinky swear with yourself not to mess around with this once you actually change the allocation.
1:58.1	Okay? So first of all that brokerage account probably has embedded taxes. Mark and I were just talking about this about what do you do if you've got a bunch of
	...

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