The 3rd Decade Podcast

Phone Audio: Intro to The 3rd Decade Podcast with Bob Swift

May 19, 2020 Episode 1
The 3rd Decade Podcast
Phone Audio: Intro to The 3rd Decade Podcast with Bob Swift
Show Notes

Join our host Scott Bennett as he and 3rd Decade Founder, Bob Swift discuss market volatility and the potential impact of COVID-19 for near-future and long-term. 
 
Note: It is our intention to hold podcast recordings in-person with professional equipment when it is safe to do so, but in an effort to begin sharing our messages in these trying times, we are temporarily utilizing phone-call recordings.

The average person who invests their money has ~6 of these events throughout their lives. Why does it always feel like “this time is different”? Well, because many times it is. What’s important is to keep yourself informed on patterns throughout history. Investing is a long-term commitment, and selling when things go bad is guaranteeing your loss. Continue with your long-term plan, and don’t waste your time trying to time the market. Remember what this feels like; take record of it – because if you are in this for the long-haul, you have at least a few more events like this ahead of you in your lifetime, and it’s good to prepare yourself to be resilient to that panic we all initially feel in a market downturn. 

Some positives we predict might happen because of these circumstances: 

-People are seeing just how valuable it is to have an emergency fund

-We are already seeing a change in the pace of life, and in some ways a decrease in materialism.

-Millennials have now lived through 2 major financial crises, and that serves as practice for how to strategically navigate and make it through these situations while not harming your financial future. 

-Index funds become an increasingly attractive option for diversifying (i.e. who would have predicted that airlines and cruise lines would have suffered so much during the pandemic). 

-The potential for SSI being a larger part of retirement planning.