Episode 73: Coronavirus & the Economy – Navigating The Turmoil

Today’s Prep:

Between coronavirus fears and the current market volatility, how can you navigate this turmoil wisely? What should you be doing with your money?

(Click the featured times below to jump forward in the episode)

Equipping Points:

There’s a lot of emotional and financial turmoil right now as we face a virus that comes with a lot of unknowns. The market is going up and down, and you may be wondering what you should be doing right now to best prepare for an uncertain future. On today’s episode of Cover Your Assets KC, David talks through what has been happening lately and a few possible scenarios moving forward.

We experienced a market crash but now it’s started to bounce back. There was a market drop that was the fastest 20 percent and 30 percent drop ever according to the headlines. Then we had one of the biggest bounces in over 40 years. What caused the drop and then what caused the bounce?

Between coronavirus, an economic shutdown, and an oil war, there’s a lot at play here. Then there was a major bounce back after between $6-7 trillion of economic spending and support from the government. David talks through what occurred in such a short time and how some of that money was spent.

Is the bounce back sustainable? We don’t know when the restrictions will be lifted. When will the country not only be allowed but comfortable going to a sporting event or a restaurant? We have no idea what getting back to “normal” might be like. What are the potential impacts on the economy? Will it come back slowly or quickly once coronavirus is over?

What should you do with your money now? If nobody knows how fast we’ll make an economic recovery, how can you handle your money wisely in the market?

Listen to the full episode to hear more from David or click on the timestamps below to hear how to navigate through the current turmoil.

[1:04] – It’s a lot to navigate through this pandemic. No one knows how it will all unfold.

[2:08] – There was a market crash and then a bounce back. Will the volatility continue?

[3:40] – What caused the market to drop?

[5:24] – What caused the bounce back?

[8:05] – Is the bounce back sustainable?

[10:34] – How do you invest amidst uncertainty?

[13:02] – What do you do now with your money?

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More From David:

The host: David Dickens

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