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Jill on Money with Jill Schlesinger

Coronavirus: What to Do With Cash?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.61.8K Ratings

🗓️ 6 April 2020

⏱️ 11 minutes

🧾️ Download transcript

Summary

If you're lucky enough to have excess cash sitting on the sidelines, is it time to jump into the game? 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

Click on a timestamp to play from that location

0:00.0

Welcome to the Jill on Money Coronavirus Market Update. We are recording this on

0:09.4

Sunday afternoon for 39 p.m. Eastern time. It will drop in your feed on Monday morning. This is the

0:16.9

program that is holding your hand, helping lift you up, and hopefully not bring

0:21.8

you down too much unless you act like a knucklehead and then we're going to bring you down.

0:25.0

We want to help take the mystery out of this crazy period of time, focusing on your money during the pandemic and trying to get you set up for the week ahead,

0:36.4

I don't know what's going to come.

0:37.8

Nobody knows what's going to come.

0:39.2

But if you've got a problem and maybe it's keeping you up at night or maybe it's easier for you to focus on your money

0:45.4

rather than all the other fears in your life why'd you give us a holler? Ask Jill at

0:50.1

Jill on money.com Ask Jill at Jill on Money.com. Ask Jill at Jill on Money.

0:54.6

com.

0:55.6

Kevin writes, I'm 63, retired for two years.

0:59.4

I have a pension that covers one half of my basic expenses and I've been taking out what is needed from an IRA.

1:07.0

I haven't tapped into Social Security, no debt, I own my house, and I've got three to four years of cash. Sounds good to me. Here's his

1:15.7

portfolio. About 1.3 million dollars, 30% cash, 30% stocks, 36% bonds, 4% other.

1:25.0

He said it's moderate to conservative.

1:28.2

In the last two weeks, this was at the end of March,

1:31.7

so he didn't, not since last week he's lost about 130

1:35.4

grand so his portfolio is now about 1.1 the losses are cutting into his

1:40.0

principal I believe this crisis will continue for a long time and markets will trend down for a long time.

1:46.1

I can withstand the hit to my portfolio if I were to get out now, and I'm really frightened

1:51.1

to the possibility of a crash and losing more and maybe most of it if I were to stay in.

...

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