Coronavirus: Stick with Target Date Fund?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 27 July 2020

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

You want to invest, yet you don't want to worry about your investments. Is a target date fund the right approach? Easily one of the most common questions we get! 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, July 27th. Mark, it is going to be a very busy week. How busy? Very busy. At least when it comes to
0:19.2	data. We have a Federal reserve meeting on Wednesday.
0:24.2	They're not going to do anything,
0:25.2	but we always want to hear what they have to say.
0:28.3	But then on Thursday, it is that
0:30.6	ginormous GDP report for the second quarter. This is the first estimate. is that
0:33.4	the the enormous GDP report for the second quarter. This is the first estimate.
0:35.3	We are expecting a 25 to 30 percent drop, an annualized drop,
0:41.4	in output. It's going to look astounding. So that said, if you have a
0:47.4	financial question, do send us an email. Our address is Ask Jill at Jill on Money.com. That's Ask Jill at
0:56.8	Jill on Money.com. This is from Sean, who is 35 years old and recently inherited an IRA valued at around $400,000
1:07.8	after my mother passed.
1:09.2	Oh, Sean, I'm sorry about that.
1:12.1	Sean continues.
1:13.0	I max out my traditional and Roth IRAs every year.
1:16.0	My traditional and Roth, you max out both?
1:19.0	Can't you only do 7,000?
1:21.0	Go and do one or the other?
1:22.0	I mean, I guess you could probably do half and
1:24.6	half. Anyway, I max out my IRA every year. I have an emergency fund of at least
1:30.2	six months. That's good. I understand with the recently passed
1:33.7	Secure Act that inherited IRAs must be withdrawn within 10 years after the
	...

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