Rose Retirement - Your Family, Your Finances Weekly Podcast
Rose Retirement - Your Family, Your Finances Weekly Podcast
Are you prepared for a market correction?
So, when will the soaring prices come back down to earth? The market is wondering if the Fed will get it right. Should we even worry about a correction at this point? The Money financial website advised those nearing retirement not to panic. Hear John talk about when it's time to panic, what to do NOW to protect and grow your income IN the market, and inflation-proofing your income plan!
Welcome to your family your finances the podcast with John Markel of Rose, retirement get more details on the website at Rose retirement.com. Welcome to the show. You're listening to your family, your finances. My name is Jessica. I'm alongside John Merkel of Rose retirement each and every single week talking about those tough topics that certainly you're hearing about seeing and maybe even just personally feeling financially, right, lots of market volatility happening. Inflation is clearly on the rise. Tax season is here. We know taxes are going up. So lots of moving parts when it comes to our finances, both in the working world. And in the retirement world. We're gonna get into those conversations in just a few moments. But as always, I want to check in with you, John, I know you have been slammed busy people are finally putting the the gas pedal down and they're ready to talk to you about their retirement.
John Merkel - Senior Financial Advisor/Founder CEO of:Hey, good morning, Jessica. Yeah, it's not in date. Now. The phones are ringing off the hook appointments are being scheduled almost no, three to five to six a day. And it's fun for me. But same time I understand the urgency and people's voices when they do call. And it's kind of like, I know, you know who Paul Revere is, it's kind of like, you know, we've been ringing the message, you know, tell Hey, you know, this market volatility is coming. And now that it's here, a lot of people that have that or listen to a radio show or watch us on television, you know, they're finally starting to call in and reach out to us and, you know, friends and referrals, and it's get a little wild around rose retirement. In fact, the other day, I put a thing on Facebook, we need help, are hiring.
Jessica:All that. Yeah, as all that. Yeah. I mean, people are finally seeing the light at the end of the tunnel. These are things you just mentioned here, market volatility, you know, inflation, etc. These are things we've been talking about each and every single week. But now all of a sudden, with everything going on with the Russia, Ukraine, people are really seeing the market volatility if you've checked your 401 K statement, God bless you. Hopefully you were sitting down when you did that. So people are now seeing it. And it's kind of like what you're talking about here. You didn't know the British were coming. So they were on your front lawn right. And it is here, market volatility is here, most likely here to stay for quite a while we're gonna get into that conversation. And of course, inflation. I mentioned it here the top economic concern, and there are fears that it could grow worse amid the Russia Ukraine crisis. So when will the soaring prices come back down to earth? Well, Steve Liesman says, there's a lot of ifs that have to happen first,
Unknown:most forecasters think inflation is gonna cool later this year, hope that the ports start to clear the backlog of chips that are out there workers who have been reluctant to take a job because of concerns over things like the virus or child care that they come back and the Fed is going to be raising interest rates to slow the economy at least somewhat a lot right has to happen. But there's no reason inflation should remain this high very long. If we get the policies right,
Jessica:here's the thing, we could all sit here and speculate what the Fed is going to do what the market is going to do when it's going to do all that stuff when no one has a crystal ball. So the bottom line is John, what can we be doing now and is panic the right word to use at this time,
John Merkel - Senior Financial Advisor/Founder CEO of:the panic is not the right word to use. But get your ducks in a row is not even a word. But it's a phrase, I guess. And nobody has a crystal ball. So I've been teaching this from day one is the winnings that people are making, you know, set those aside, set them in a safe vehicle so that when market volatility is happening, you're not one of these Americans that crying and moaning because you're losing your winnings, or at a blackjack table, I'll compare it to you know, when you're winning, you know, everyone's high fiving each other. But when the dealer starts taking your money back, it's not a fun game anymore. So give few of those chips, your wife or your significant others sitting over your shoulder watching you. And you know, kind of put the winnings to the side in a safe vehicle that you cannot, the government can't come in and take your money or the stock market, excuse me can't come in and take your money from you. So just be careful. We've had a good run, and those are great, but at the same time, protect your downside. And that's what we preach and preach and preach here at Rose retirement. And that's why, you know, we mentioned earlier why so many people are calling now is they've been listening to you and me, Jessica on the radio show all the time. And, you know, finally for those that are getting it, they're, they're calling us. And you know, it's one of those moments that I guess you'd say an aha moment. It's you know what, I think John and Jessica, they've been preaching this to us. So let's let's go give him a chance. Or let's least hear what they have to say. And that's all we that's all we ask for just you know, hear what we have to say and if it suits your financial plan, then you know go for it. If it doesn't, then you know that's okay to
Jessica:that phone number 903-690-7131. If you want to come in and again, start this conversation, guys, we can't say it anymore. You got to be proactive. You can't be reactive as a lot of people are doing right now being in that panic state of mind. wondering okay, what's gonna happen next and then just making irrational decisions. We want to make sure that you go to the professional somebody like John that's got decades of experience that can help put you number one in a better position when it comes to the market and a better finding central plan when it comes to preparing for inflation and higher taxes, you could do all that today with that complimentary portfolio review 903-690-7131 903-690-7131. And speaking of interest rate hikes here, I saw an article on the Discovery money financial website, they advise that those nearing retirement not to panic, but instead, take the increases in stride and look for a couple of ways to create opportunities. Interesting here. So what do you think these opportunities are? And how do we take advantage? Well, there's
John Merkel - Senior Financial Advisor/Founder CEO of:really kind of four areas, Jessica, and we want to kind of maybe just tell that tell the audience a little bit about each one of them. Number one is probably capitalize on better savings rates, you want to try to earn a little money more for every dollar, even rates on money market accounts could go up, a lot of people may have their money in savings accounts right now, which is earning point 001 Or something like that. So even a money market account could earn more interest in what that savings account could do. Number two is probably review your portfolio, re examine asset allocations with your financial advisor or rose retirement. If it's a time to sell, or better off for more performing assets and introduce more bonds to the equation. Another one is take a look at CDs CDs right now are at an all time low. There again, just like savings accounts is just reexamined the benefit of hey, can I get more money elsewhere but still be safe. And another one is considered stocks that aren't as sensitive that good stocks like I'm not gonna say any stocks in particular, but you know, the ones that have been there forever and you know, they're not going away. Those might be more stable than, say a new tech company coming into town and you're just trying to get high gains. So just maybe kind of go a little bit more easy on newer stock, more sensitive volatility stocks just kind of simmer down a little bit. But those are four kind of ways that client can ease the volatility of their portfolio.
Jessica:You've been listening to the podcast for your family, your finances with John Merkle of Rose retirement, get more details at Rose retirement.com financial professionals are not licensed in all 50 states. To find out if Johnny Lee Merkel's licensed in your state please contact our office. Johnny Lee Merkel is not affiliated with nor endorsed by the Social Security Administration or any other government agency and does not provide legal or tax advice. annuity guarantees rely solely on the financial strength and claims paying ability of the issuing insurance company. By contacting us you may be provided with information about insurance and annuity products offered through Johnny Lee Murphy Jr. NPN number 1584707.
