Coronavirus: Is High Turnover Okay?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 31 July 2020

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Is high turnover in a mutual fund a bad thing? You'd think the answer is an automatic yes, but it really depends on where that mutual fund is located. Is it in a a tax-deferred account or a taxable account? 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 Friday, July 31st.
0:10.6	We got a bit of a data dump yesterday. The economy contracted at an annualized pace of 32.9%.
0:20.0	Yeah, that is the worst quarter in ever since the government started tracking this data back in
0:25.5	1947 and you know it's a funny thing because you know GDP which represents all
0:32.1	goods and services produced in the country it's weird because the US
0:36.2	actually reports this on an annualized rate in other words it shows what the quarterly
0:40.9	change would be if it lasted for a full year. So really the
0:44.8	economy dropped by 9.5% from the first quarter which dropped by 5% on an annualized
0:50.9	pace. But you know these are just horrible numbers and you know, it's actually when you think about it.
0:57.4	I think the worst quarter during the Great Recession was an annualized pace of a drop of 8.4 percent. So we're talking about four times
1:06.0	that. Bad. It's bad. Also, we got new numbers on weekly jobless claims with another more than 1.4 million people claiming unemployment benefits
1:20.4	continuing claims the number of people receiving benefits increased, but the total number of people
1:26.6	on all forms of unemployment benefits, including the programs that were enacted for self-employed and gig workers.
1:34.4	That's at 30.2 million and that did come down just a bit.
1:39.5	But, oof, I'll tell you, these numbers are something else I mark it sometimes it's hard to even say this I did a TV hit on this in real time and boy it was kind of scary even though I was expecting it.
1:53.0	So anyway, that being said, if you have a question about the economy,
1:57.4	feel free to give us a holler.
1:59.0	Our email address is Ask Jill at Jill on Money.com. That's Ask Jill at Jill on Money.com.
2:07.0	Karen writes, thank you for all of your hard work and putting the podcast together. I enjoy listening to it. It provides great
2:14.0	information on retirement and current market conditions. Karen continues, I'm 38
2:19.0	years old. I invest my retirement money into target funds through Vanguard. I was having a conversation
2:25.8	with my brother about my Target Fund holding and he got me thinking I'd love to get
	...

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