Automate Your Money, And 5 Things Top Performers Do with Al Caicedo
The Dollar Diva with Debbie
With the COVID-19 pandemic hitting us hard, there is a lot of apprehension about what might be next for the economy. In these uncertain times, it pays a lot to protect our assets, especially for people who are on their way to retirement. Joining Debbie Bloyd in this episode is Al Caicedo, the President of CKS Summit Group. Al and Debbie talk about the current market situation, setting up retirement and contingency plans, annuities, compound interests, and more. Also in this episode, Debbie talks about Dr. Michael Jarvis’ five things top performers do and gives useful tips about raising credit scores through automation direct deposit.
Coronavirus fears are clobbering the stock market — and your retirement - Al Caicedo #4695
Financial Survival Network
Coronavirus fears are clobbering the stock market — is it doing the same to your retirement? Concerns about the spread of COVID-19 have pushed stocks lower. The coronavirus has reached a handful of countries across the globe, including the U.S. — and now, it’s touched retirement plans too. Concerns about the spread of the disease and a global financial slowdown are driving deep dips in the stock market. Retirement portfolios are not immune to market volatility, worrying some savers that they may lose valuable assets they’ve been stashing away. The Dow Jones Industrial Average DJIA, -2.00% and the S&P 500 SPX, -1.90% both dropped more than 6% over Monday and Tuesday, in part due to fear of the coronavirus spreading around the world. The S&P 500 suffered the biggest two-day loss since 2015 this week. Naturally, some retirement portfolio balances are waning as well, requiring advisers and financial firms to talk through these issues with their clients. As always, many financial advisers are telling investors to remain calm. Market volatility is normal and expected, especially for long-term goals like retirement. Investing can be emotional — after all, people are putting their life’s savings in an account to generate enough income for them to live comfortably in their old age when they can no longer work — but financial advisers say that even though the uncertainty can seem frightening, most retirement savers should not act on any market volatility at this time. “For people who have a financial plan that tells them how they should be invested, deviating remains the single most destructive action to their wealth,” said Chris Chen, a financial adviser at Insight Financial Strategists in Boston. “For those who have no financial plan, now seems like a good time to get one.” Investors may be worried about the impact of the coronavirus on their portfolios, but it’s still too early to say what meaningful effect it will have, said Scott Bishop, partner and executive vice president of financial planning at STA Wealth Management in Houston. The sooner the virus is contained and there’s a sustained recovery, the faster the economy will rally, he said in an email to his clients. The longer the virus is out and affecting other regions as well as travel, the greater the impact on corporate earnings, which is a long-term driver of global stock markets, he said. “In hindsight, we will know for sure, but we have some past experiences that are very similar — and in the past experiences like this, the market has been very resilient,” he said. The Dow dropped 800 points, or a 3.05% decrease and the fourth biggest single-day drop in history, on Aug. 14, 2019, but investors’ portfolios were not harmed in the long run, said Andrew Westlin, a financial planner at online advisory firm Betterment. Those who bought shares on Jan. 2, 2019 and held on to them were up 24% at the end of the year (so someone who invested $10,000 at the beginning of last year would have $12,428 at the end of the year). Those who sold out of the market entirely on Aug. 14 lost out on 12% of gains. In the previous scenario, they’d have walked away with $11,061, Westlin calculated. For those who decided to buy back in when the Dow recovered the 800 points (which was two weeks later) would have seen a gain of 19%, compared to the 24% for those who simply stayed invested. Similarly to the Aug. 14 drop, the impact of coronavirus fears will likely be short-lived for the stock market, as it has been for other pandemic-level health issues, including HIV/AIDS, SARS, Ebola and Zika, said Melissa Sotudeh, director of advisory services at Halpern Financial in Rockville, Md. China’s economy is larger than it was in 2003 during the SARS outbreak, and is much more integrated into the global supply chain, but there are many reasons to believe the impacts will be temporary, she said. “The coronavirus is not a reason to change your portfolio strategy,” she said. Still, some investors may just not feel comfortable with the market fluctuations, at which point now may be an appropriate time to adjust the risk in their portfolio, Westlin said. “The approach we take is looking at how long you have to save for a goal — that’s how we come up with the right level of risk,” he said. “At the end of the day, the investing strategy and risk we choose is a trade off.” The key is to avoid rash decisions sparked by fear of a downturn, he said. Market volatility often shows the value of having bonds in a portfolio, Sotudeh said. “The ongoing income from your bond funds helps stabilize your portfolio, and these securities become more attractive to investors when equity markets are unstable, causing their prices to rise,” Sotudeh said. There’s one other time when a person may want to consult a financial professional about their portfolios amid market volatility: when they’re nearing retirement. These investors have less time for their portfolios to recover, and if they’re too heavily invested in equities, they could curtail their future assets. Studies have shown some baby boomers are investing much more in risk than they should. That’s why advisers typically suggest investors stay logged out of their retirement accounts, or tune out any sensational talks about a market downturn or steep drops in stock indexes. “Timing the market is futile but sticking with your allocation in the up and downs prove to be the best course over the long term,” said Christopher Beste, a financial adviser at RFG Advisory in Vestavia Hills, Ala. “We can’t control the markets but we can control emotions.”
Al Caicedo - Is Your Portfolio Ready for What's Next?
Exit Coach Radio
Al Caicedo is President and Owner of CKS Summit Group, founded in 1996.Al’s focus and objective is to help ensure his clients are able to enjoy their lifestyle beyond the workplace and into their retirement years.
ECONOMIC DISCONNECT: HOW ‘STEALTH EASING’ CAN HURT RETIREES W/ AL CAICEDO
Rethinking the Dollar
The New Round of Quantitative Easing 👉RETIREES HAVE TO KNOW THIS INFORMATION👈 Quantitative easing was supposed to be a temporary relief or a quick fix. The Central Banks have proven that lower interest rates and buying assets can’t cure the underlying problem. Does Quantitative easing work? Or is there a possibility it’s making things worse? In this interview Al Caicedo explains why Quantitative Easing is a disaster waiting to happen. Watch the full interview on the RTD YouTube channel here: https://youtu.be/mc3m7cUsjOE
Rebecca Sounds Reveille with David Montoya and Al Caicedo
Rebecca Sounds Reveille
This doubleheader brings the first episode with guest, David K. Montoya, who is a writer, director, producer, author, comic book writer, podcaster, artist, and business entrepreneur. He started creating his own comics in the 1990s and didn't make a name for himself until the launch of his online magazine, “The World of Myth.” He founded the “Dark Myth Production Studios,” which is the hub for a number of his creative works, to include, “The Open Contract Challenge.” David shares his journey where his love for art was identified at a young age and how it spawned his creativity that eventually lead him to where he is now. He gives so much insight into how his compass has pointed and how he was able to navigate the road along the way. What is refreshing is his ability to make it relate to everyday life most of us experience. He talks about podcasting, his family, comic books, and dreams, even writing his novel. His talents will amaze you as you listen to his accomplishments and will inspire you along your own journey. The take away: Keep pursuing your dreams, learn from your mistakes and try again. When you learn from them and you grow from them. That’s what will help make you successful because you are then equipped for better decision-making. http://www.darkmythproductions.com https://www.facebook.com/jayzomodcast1 https://www.imdb.com/name/nm6934736/bio The second episode brings, returning guest, Al Caicedo, the President and Owner of “CKS Summit Group,” who is also a member of the “Presidential Who's Who,” “The Million Dollar Roundtable” and has been featured in a number of publications such as, “The Oakland Press,” “Detroit News,” “The Observer,” “Eccentric Builder Magazine,” “Consumer Digest,” and heard on “WWJ Radio 950” and along with many more, Al is on the show to help people with their finances. He doesn't like how many people have felt handcuffed to certain ideas and beliefs about how things “should be” when it comes to financial planning or what one “should” do with their money. During the show, he talks about what has been happening in terms of “safety and risk” in the economy and how it has been a big deal right now. He gives insight into how people have been concerned about the credit bureau leak and what has been occurring with identity theft. Therefore, taking precaution paramount to our financial well being is essential. We all have become accustomed to a certain way of life, so we need to look at maintaining our current status quo, or if nothing else, to think about how to maintain it. Looking at that, then we have to decide how to protect the circle of our comfort zone. A question to ask ourselves: What do I need to do to prevent a situation that really could be catastrophic to my lifestyle, my self-esteem, my everything? The take away: You will gain key insight with specific details by listening to this episode that will help you make personal decisions in reference to your current financial status. https://www.summitgp.com https://www.facebook.com/ckssummitgroup