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Big Picture Retirement®

How A Bear Market Can Maximize Your Retirement

Big Picture Retirement®

Devin Carroll

News, Business News, Investing, Business

4.7546 Ratings

🗓️ 31 October 2022

⏱️ 30 minutes

🧾️ Download transcript

Summary

For those who are retired, or getting close to being retired, a bear market is an anxious time. In today's episode, we talk about how you can PROFIT from a declining market and set up the rest of your retirement to reap the rewards of making the right moves while the opportunity is still here.

Transcript

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0:00.0

The Big Picture Retirement Show does not provide tax, legal, or financial advice.

0:04.3

Listeners are encouraged to seek out their own advisors in these areas.

0:11.5

Hey everyone, welcome to the Big Picture Retirement Show.

0:13.7

I'm your host, Devin, joined today by my co-host John Ross.

0:17.1

Howdy.

0:21.6

So, John, have you noticed what's been going on in the stock market like?

0:25.6

Man, I was at a financial advisor's office last, the best week ago, maybe.

0:31.3

And I was doing some estate planning for some of their clients.

0:33.9

And they would, they'll, they'll have a day and they'll rack up three or four clients that need

0:37.9

my services and I'll go in and I'll sit in their office and I'll meet with them. Anyway, I was talking to I was talking to one of the financial advisors. I was done. I was kind of walking out and I was like, Sylvan, I said, how's it going? He was like, how you think it's going? He said, there's a reason why all of our offices are on the first floor.

0:53.5

He said that way when we jump out

0:54.9

the window, we just get a bruise. It has been a rough period. For sure. And you know, a lot of my

1:01.5

colleagues that I've talked to, they are very, very busy right now with incoming phone calls

1:07.0

and, you know, clients that are really concerned. And I'll have to say that I've been really

1:11.0

blessed with the, with the clients that I have. I rarely have anyone that calls, you know,

1:16.6

ready to jump where I'm having to talk them off the cliff. It rarely happens. A lot of my clients

1:21.5

have been through these markets already, you know, some of them started to come into their wealth.

1:26.2

Maybe it wasn't in the 2000 to 2002 bear market, but the 2008 through the latter part of nine bear market, they went through that.

1:33.6

Then we didn't really see another big bear market until March of 2020.

1:38.2

That was so short, it was laughable.

1:40.5

I think it was 43 days and the market fell like 32% in that period. So it was very sharp,

1:46.1

but very quick. And here we are in kind of a classic bear market. Right. Yeah, kind of

...

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