DO YOU KNOW HOW MANY ELEPHANTS ARE IN THE STOCK MARKET ROOM TODAY?

Published: Aug. 3, 2020, 8:06 p.m.

Joe Soto here, I recently had a discussion about the virus and everything going on right now. So for today, I want to share with you 4 things that I'm thinking about on behalf of my clients.   So let's get on with the topic of the day; “what am I concerned about on behalf of my clients?”  The 1st thing is our relationship with China!  China is intertwined in the global commerce economy of the majority of the world. If you look at what percentage of the products in the world come from China, then you’ll know it’s a special relationship.  The second thing is; “The US elections!” But one thing that you can know for sure is that we are going to have a ton of noise and a ton of volatility as a result of these elections. The third thing is “the cascading effects of covid-19.” So they keep talking about what is happening with the virus right now, as a financial planner, I'm trying to see what happened because of Covid. The last point; “The 18 month outlook” via a variety of mechanisms, that's going to be basically the benchmarks on a quarterly basis that I set up to navigate these waters.  There's noise and fear, there's also opportunity. Every time there's noise and fear, there's also opportunity. So it’s super important in this environment, that there's a set of rules and blueprints that are designed as a guidance system.  Tips to wrap up:  You must find professional help i.e. a fiduciary. You need a blueprint, i.e. written financial plan.  This is the value of having a written financial plan, because we don't want to build a plan based on scarcity mentality, but an abundant base mentality. --- Send in a voice message: https://anchor.fm/joesotoproject/message