ELECTION YEAR, CORONAVIRUS, STOCK MARKET TURBULENCE… OH MY!
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ust in case you have had your head in the sand for the last month (which may be the safest place, actually!), let’s review the trifecta of issues that are currently making 2020 a one-of-a-kind year.
We all knew 2020 was slated to be a contentious election year. No matter where you are on the political spectrum if you remember what 2016 was like, making a conscious decision to not talk politics on Facebook or at family gettogethers for the rest of the year might be a good relationship-saving move. The wild card that we didn’t see coming was the Coronavirus. The new virus, which was detected in China at the end of 2019, has spread across the globe. Health officials and governments started out talking to the public about “containment,” but the conversation has moved to “mitigation,” as the world grapples with quarantines and vaccines. As the Coronavirus spreads, from country to country, its effects have also spread through the stock market. Oil and travel stocks have been hit hard as travel has been restricted and more and more people are staying home. Concerts, sporting events, weddings, vacations and business travel have all ground to a halt. Meanwhile, we all have recently experienced the major turn that the stock market has made.
Solution on page 14.
So, what is a retiree or pre-retiree to do during turbulent times? We all know that when it comes to elections, pandemics and a topsy-turvy stock market, that these events WILL happen. There is no question “if” these events
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will happen. Warren Buffet, known for his pity comments that bring us back to the basics when the market sours: Predicting rain doesn’t count, building the ark does. With that advice, now might be a good time to ask yourself how you can continue to build a stable financial ark for your retirement income plan. What are your future financial plans to help when the waters feel choppy and you start to get seasick? Let DRStrategies help you in today’s uncertain world despite elections, viruses, and stock market risk. If you know you might not be able to ride the storm…should you continue to stay in the water? With successful strategies, where risk should never dictate your retirement or lifetime income plan, let us help you build that stronger ark. Our team of private licensed professionals would love to talk with you about a protection plan that will include your specific goals for retirement. We can build you a customized strategy that will be managed for not “if”, but when that Tsunami hits.
Michele Diamond Diamond Retirement Strategies www.DRStrategies.com 480-750-2999 Licensed Insurance Professional. Respond and learn how financial products, including life insurance and annuities can be used in various planning strategies for retirement. ARE-7172 - 119902-2020/3/11
We’ve built our reputation by putting clients’ needs first every time. At Diamond Retirement Strategies we help individuals, married couples and families plan for their retirement. Whether you are already retired or are preparing for retirement in the next few years, we can help you through strategies to finally reach your ultimate goals.
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18 • May 2020 • THE SCOTTSDALE STANDARD
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