161: Ask Hilary - How To Make The Most Of Your Money in an Uncertain Economy

In this episode, I’m answering several listener questions about the coronavirus pandemic, the economy, stock market investing, and personal finance.

I’m hoping my answers to these questions will help you better understand how to think through tough decisions when it comes to money and your family, why you should manage your mindset instead of trying to predict the future, and how moments like now prove the importance of having an investment strategy — to name just a few of the issues we dive into.

We also get into what you can do to make money right now, what types of businesses are thriving in this tumultuous time, what you can do as a business owner to protect yourself and your employees, and what resources may be available to you as individuals via the $2 trillion CARES Act passed by Congress.

Things may feel like they’re constantly changing right now, but by deepening your understanding of what’s going on and how you can best stay physically and fiscally healthy, you can come out of the other side of this empowered, educated, and ahead of the media. Tune in to Profit Boss® Radio today!

Here’s what you’ll find out in this week’s episode of Profit Boss® Radio:

Cara asks: “Should I pay off the loan on the house I inherited from my grandparents, or should I refinance and invest my money, even though the economy feels shaky right now?”

Monica asks: “How long do you think the trickle-down effect of the global reaction to the coronavirus is going to be?”

Carl asks: “How should the fiat currency issue play into my investment strategy, and should I listen to people telling me to buy precious metals or Bitcoin right now?”
Lela asks: “How should someone arrange their stock-bond IRA or Roth IRA if they’re over 65?”

Ana asks: “Why do we need to hang on tight and not sell or panic in a crisis, and what can we do to maximize our investments right now?”

Brandy asks: “Will we all get back the money we lost in our investments once the coronavirus event has ended?”

 

Show Notes

To get access to the full show notes, including resources mentioned, transcript, and a complete breakdown of the End of Year Wealth Building Checklist, visit HilaryHendershott.com/161.

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Hendershott Wealth Management, LLC and Love, your Money do not make specific investment recommendations on Love, your Money or in any public media. Any specific mentions of funds or investments are strictly for illustrative purposes only and should not be taken as investment advice or acted upon by individual investors. The opinions expressed in this episode are those of Hilary Hendershott, CFP®, MBA.