Coronavirus: Will I Get a Stimulus Check?

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 1 April 2020

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Will you be receiving a stimulus check? It depends on a number of factors, some of which are very much within your control. 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. This is our daily dose of hand-holding and hopefully soothing words to get you through this incredibly
0:17.0	stressful period. We are talking to you at the end of trading on March 31st and that means it's the end of the quarter.
0:27.5	So how bad was this quarter?
0:30.2	Well the S&P 500 was down 20%, that's the worst quarter for the broad index since 2008.
0:39.0	The Dow is down 23.2% over the last three months, its worst quarter since 1987.
0:48.0	Nasdak was down by 14.2%.
0:52.2	But wait, it could have been worse. You could have owned crude oil. Crude
0:56.8	oil futures, we're down. You ready for this? 66.8%. Crude lost two-thirds of its value in three months.
1:09.0	Oh, I know all of you clinging to your gold.
1:12.0	You know how great it was? Was wasn't that great. It was fine. Gold was up 4.5%
1:16.6	over the course of the quarter. However, if you owned U.S. Treasuries, maybe short-term ones, those were up by 2.4% throughout the quarter,
1:28.0	7 to 10-year treasuries up 10.2%. 20 20 year treasuries, 21.8 percent. In other words, if you had a
1:39.6	balance portfolio it wasn't a great, but it wasn't a total washout either. It was bad.
1:47.0	Oh, I forgot to mention one thing. The Russell 2000, I usually like small stocks. Russell 2000 small stocks down 31.5%.
1:57.0	So we don't know what's going to happen next. We can just turn the page. Let's concentrate on what we can control. You cannot control the markets. Let's control what's going on in your life. So let's get to your questions.
2:10.0	Okay, here is the question from Tommy. I heard you talk a lot about RMDs lately and the worry that people have from needing to take out what amounts to a bigger percentage of their retirement accounts during the downturn. If they take that money and reinvested through a taxable
2:24.0	account right away then why does the current state of the market matter?
2:27.2	That money invested through a taxable account now will presumably go back up at
2:31.4	some point. Future RMDs will be smaller as a result of this year having a larger percentage
2:36.7	taken out I'm decades away from RMD so maybe there's an important
2:40.0	complication I don't understand I'd love for you to help me learn more. Thanks Tommy.
2:44.9	Hey Tommy you know what the big problem is? Most people need to spend the money to live.
	...

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