Preview Mode Links will not work in preview mode

The Guided Retirement Show


Mar 24, 2020

When the markets react hard to a global crisis, it’s not always easy to know what to do. You’ve probably heard not to sell, but to watch your portfolio take a beating day after day can be exhausting.

Returning to the podcast today for this special episode is Bud Kasper, President of Barber Financial Group Lee’s Summit office. Bud has over 37 years in this industry, has seen all kinds of bear markets, and all kinds of recessions - and has helped countless clients make the most of what can be a painful, difficult time.

Rather than focus on what’s happening with the markets right now, we want to take some time out to talk about how to react, what to do when a crisis hits, and how to think about risk as you create your retirement plan. As this month has shown, crises can hit at lightning speed, but being aware of the forces at play and adopting the right mindset can have a huge impact on your health, both personally and financially.

In this podcast interview, you’ll learn:

  • Why it’s not always illogical to make changes to a portfolio when a recession hits, but keeping your emotions in check needs to be your top priority.
  • The questions you should be asking about how your money works for you at all times - not just when a recession hits.
  • Why emotion often takes over in investment strategies - and why people who felt like they weren’t aggressive enough in 2019 are likely hurting right now.
  • Evergreen strategies and thought processes that can help you avoid emotional investing in stressful economies.
  • What we can learn from past recessions and how the coronavirus crisis differs from the Great Recession of 2008.
  • Why working with a real retirement planner should stop events like this from impacting your lifestyle.

 

Get Today's Show Notes

To get a full recap of today's conversation, including the biggest takeaways, transcripts, and links to all the resources mentioned, visit GuidedRetirementShow.com/24

Learn More about Retirement Planning

Find out more about retirement planning and Barber Financial Group, by visiting BarberFinancialGroup.com