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Hi Do, Here are Todd’s latest fun picks to take your financial skills to the next level... The world is spinning fast right now. I'm shocked at how I've consumed more news in the past two weeks than in the previous year. #Crazy.
Below are a three carefully chosen (and quick-to-check-out) resources that will give you some essential perspective on the rapidly evolving market situation... Don't fight today's battle using strategies from the last war. Just because "buying the dip" worked before is no reason to believe it will work now. One obvious difference is how COVID-19 does not respond to Fed policy tools. Yes, the pain of the recession can be lessened, but the negative market reaction to each Fed policy intervention should tell you something very different is happening this time. In addition, corporate junk bond debt is several multiples larger than it was during the 2008-2009 decline and could multiply existing problems (#understatement). This chart by the St. Louis Fed tells an important story. Junk bond spreads have widened dramatically to enter critical territory. You would be wise to watch this chart carefully going forward. If spreads continue to grow then things could go from bad to worse... much worse. Forewarned is forearmed. Listen to your investing friends talk, and you will know what stage the bear market is at and how long it will last. No kidding. This illustration gives you a quick and useful visual guide. Measure your own emotions to see how long the bear market will last. My oldest daughter is back from college, the whole family is together again, and we're making plans to create a positive experience out of this situation. Eliminating skiing, travel, and social activities from our daily life could be a drag, or it could be a chance to spend more time together and accomplish greater things. Is it a lemon, or the makings for lemonade? You get to decide.
Yes, most people's finances have taken a hit in this downturn. You're not alone. The sad truth about bear markets is he loses least is the winner.
During my office hours support call today for my Expectancy Wealth Planning course, several students shared how thankful they were that their losses are a tiny fraction of what they otherwise would have lost prior to gaining the knowledge in this course. They were prepared. That's because I teach the Advanced Planning Framework and deep diversification for risk management that protects your assets much more effectively than the conventional financial planning wisdom of simple diversification and rebalancing.
Every day is another chance to grow. What you do during this crisis will determine the results you produce after it is over. Commit to using this time at home to take your financial planning skills to the next level. It will never be easier than now, and you can try 5 lessons from the course without cost here. You have nothing to lose but time, and everything to gain.
I'm also going to try something I've never done before to be helpful. You can call me directly at 11:15 Pacific time // 2:15 Eastern time on Friday to discuss these issues and answer your questions. The conference line for this event is 425-436-6200 with passcode 205185#. I will get on the line and stay as long as you have questions. I hope it's helpful.
Onward and upward!
Todd Tresidder
Also, when you're ready to take the next step, here are two ways I can help you... Special Discount!The second edition of my popular book How Much Do I Need To Retire? has been selling so well that Amazon started discounting the book to further push sales. The price is bouncing around, but last I checked it was down to just $14. Grab your discounted copy on Amazon here. People come to my Expectancy Wealth Planning course for the advanced personal wealth plan and comprehensive education, but they stay for the community of like-minded wealth builders. See what students are saying here... |
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