Over the past month, we’ve seen financial markets react to potential economic fallout from the coronavirus pandemic and it’s happened at an unprecedented pace. But how surprised should we be by this significant reaction? Dan Cuprill joins the show as we talk about the lessons we’ve learned from history, what this latest crash has taught us, and where we might go from here financially.
(Click the featured times below to jump forward in the episode)
No matter who you are, the coronavirus has impacted you in one way or another. Some people have been affected much more significantly than others, but we’re all dealing with this pandemic in some fashion.
Part of that has been managing finances as financial markets have reacted to all of the fear and uncertainty surrounding the future of the economy. Markets sold off rapidly in March as 1,000 point swings became a daily occurrence. How are you handling it and what are you doing to prepare for the other side of this downturn?
Dan Cuprill joins us today as a guest host to talk about the market reaction and give us his perspective on everything. As an advisor that’s been around for many years and experienced the ups and downs, he can provide insight into this wild start to 2020. If you’ve listened to Dan before on this podcast or another show, you’ll already know that he doesn’t hold back and likes to address things in a straightforward manner.
A few of the things we’ll discuss during this episode of Solving the Financial Puzzle are:
⁃ Is this response to COVID-19 normal?
⁃ The one lesson this has taught us.
⁃ What has history taught us about how the market will respond?
⁃ What should you be doing financially as an investor?
⁃ Where will we go from here?
We’re all trying to process what’s happening right now with the economy and many people will let fear overtake their decision-making. Don’t let that be you. In a few months, we might look back on this and not think much of it. No matter how long that might take, history has proven that the market wants to go up and it soon will again.
Check out the show now and use the timestamps below to skip ahead to specific segments of the podcast.
[0:46] – We’re joined by Dan Cuprill once again.
[1:22] – Every 100 years there seems to be a new pandemic.
[2:32] – This is affecting us all in many different ways but it’s taught us one important lesson.
[5:11] – You can use history to see how markets react.
[6:38] – Be calm because this is typically an investing opportunity.
[7:44] – Bad news happens but you have to ask yourself this question to determine how markets will react.
[8:15] – Watching cable news 24/7 isn’t going to help anybody.
[10:12] – Panic starts to set in and trying to time the market will really hurt you.
[12:39] – Here’s what concerns Dan within the industry.
[14:49] – This is where good financial advisors earn their keep.
[15:59] – How does Dan see this playing out over the next few months.
[18:11] – Don’t make actions that turn out to be irrevocable in hurting you.
[19:41] – A deal to make with your grandchildren.
[21:21] – Over a period of time this will look normal, which is why you stick to a plan.
The Full Picture:
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The host: Nikki Earley – Schedule A Time To Meet – Or Call: (513) 563 – 7526
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