3/13/20 – MLG Five Fact Friday: Coronavirus Edition
This is Five Fact Friday, I’m Victor Medina. Guess what, I’m on a beach in Puerto Rico, and it is gorgeous out. I’m here to deliver my two oldest kids to Spring Break, where they’re gonna be hanging out with my mom for a couple of weeks, and I thought, hey, I would take a couple of days for myself, and while I’m down here, might as well use this beautiful venue to record Five Facts Friday. Now, I’ve got five facts for you, I’ve got five links for you. A lot of them have to do with the coronavirus. In fact, I’ve got a bonus link for you at the end. And so I’m gonna go through each one of these, but I wanna let you know this; it’s gonna be okay as long as you’re following great advice, and we’re gonna talk about where you should be getting your advice, and what that should look like, specifically in the financial realm. So let’s start with the very first link, how you can stay sane in a crazy market. That’s what I’m reading, and I’ll tell you, it’s so much a behavioral finance thing for us to be looking at the stock market and wondering what should we do next. You’ve been watching the stock market go up and down, and it seems like the news wants to do nothing but report how many points the Dow went up, and how many it went back down, and it doesn’t really seem to matter what the Fed does, or what’s going on in the news, it seems like everyone is just going crazy, either taking advantage of a low market, or selling because they think that things are gonna be worse in the end. So this link actually gives you a number of strategies that you can employ to help you stay sane in a crazy market. And I’m gonna talk a little bit more about what you can do about your retirement plan when we gets to the final link. The next link after that is what I’m reading, and it’s about the naming of the Mars Rover, a part of the Rover program. And what they did is they put it out to the world to name the Mars Rover program, and for a long time, the number-one vote getter was somebody called the Rover McRover, and I don’t think that that won. In fact I’m gonna tell you right now, it didn’t win, but the name that was selected was suggested by a middle schooler, so I hope you follow the link and figure out what the name of the new Rover is. The third link has to do with part of Amazon’s program. There’s something on your app. You know, they’ve been buying up Whole Foods and creating convenience stores that you can just walk in and walk out without having to pay for anything. Well, you’re gonna end up paying for it, but you didn’t have to do anything to check out, and all they did was identify you by your app, and your phone, and your device, so that when you walked in and out they knew what you selected, and they know what to charge you at the end. I think it’s a wonderful examination on where convenience is going, specifically since we seem to know so much about each other, based on that little device that we carry in our pocket. Two other links for you. The first one is what’s new in legal. You know, people are trying to get more and more advanced with payment programs and electronic medical records, and so there’s a new payment program for Medicare that if you were somebody that might have been taking, for instance, physical therapy, you might wanna learn more about, because it’s going to change the way that you’re billed, and how your provider gets paid. And so you might wanna learn a bit more about that. The two last links for today are going to be talking about the coronavirus. The first one is what, if anything, should you be doing about your retirement plan, based on the fact the coronavirus is going out there. And the answer is, well, it depends where you’re getting your advice from. See, the people who are our clients already have a plan in place that didn’t contemplate necessary that there would be a coronavirus, but did contemplate that there were going to be some struggles during retirement. There gonna be some years where things weren’t as rosy as the last decade. And so they have a plan where they’re not really looking at the stock market, and they’re not worried about it because if they just follow the program, they know that they have the money that they need to get through retirement. It’s part of that comprehensive plan that we did for them. Now, if you’re somebody that’s approaching retirement and you don’t have that kind of confidence, I’m gonna suggest to you it’s an opportunity to explore that with somebody who not only specializes in retirement but specializes in putting in plans together that can help withstand the crazy, tumultuous world that will definitely happen between the time that you retire and the time that you pass away. And so that’s what our clients get, and we’re offering the same thing for you. In fact, I’m gonna urge you to act quickly on this, because the world of different investment products that might help you in retirement is going to get shaken up by this most recent news, and so the time to capitalize on some of these strategies is now, before the world and the shifts underneath us and changes the landscape around that. So we’re gonna offer you the opportunity to come in, explore your retirement plan, and if you follow through, use our suggestions be resting with peace of mind and confidence that everything’s going to be okay. The last bonus link has also listed the coronavirus. And you know, there’s a lot of people talking about how you should wash your hands, but I found a great link on the New York Times about why is it that we touch our face so often, and what you can do to stop. You know, it’s said that you touch your face between 15 and 23 times per hour, and so that is a lot. I find myself subconsciously with my hands around my face all the time, and for me, it’s a very difficult habit to break. And so it’s definitely something that I wanna explore, and I wanna offer you that bonus link as well. So let’s wrap up. Couple links on the coronavirus, the Rover program, what’s on the Amazon app, and how you’re gonna be leaving the store with the things in your hand, but not having paid for it. But finally, explore your retirement plan. Gets to the point in time where you have complete confidence that the plan that you put in place is the one that works for you no matter what’s going on in the stock market, from today to the rest of your days. If you have a retirement plan in place that you know is working for you, I think that’s fantastic. But if you don’t, the craziness that’s going on here right now, you absolutely owe it to yourself to come in and have a conversation with us about what your retirement plan should look like and putting one in place that you have complete confidence on going forward. That’s all I wanted to end with.
Five Fact Friday is a bi-weekly newsletter produced by Medina Law Group containing 5 interesting or fun links. For more information, visit medinalawgroup.com or call 609-818-0068.
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