Milwaukee, W. T. M. discussed on Wisconsin's Afternoon News with John Mercure

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And in Milwaukee for at thirty three degrees sponsons afternoon news on W. T. M. J. the market's not looking so good today they took a nose dive yeah after a number of factors of iris cases surged in Italy and South Korea Tony Drake which Reagan associates joining us to help make sense of this not so great day Tony I'm curious I mean this may be a little naive on my part but when it comes to the coronavirus and having it you know globally how does that affect the markets we always saw that big drop that you mentioned today and the reality is not a whole lot has changed since last week so a lot of the promotion now the markets are driving a lot of emotional reaction well it certainly seems unwise in cases outside of the last the big question becomes what the economic impact long term financial economists were things that just forced corner now if I can maybe we might see some slowdown in certain industries for the plus package this year and that's got people nervous Tony it's Tony Badenoch was something like today this this big selloff was this expected maybe by some investors over the weekend you know we walk away from the futures down over the weekend so it was somewhat anticipated and I think we saw coming a bit but we're sort of pretty high spot I think economic growth is still strong so we have to have that conversation about carnival rides and ride the payroll you traitor of your looking to retire in the next six months we want to pay attention this pretty closely five ten twenty years away from retirement maybe it's a buying opportunity I certainly want to know everything on the Morrow but when you see things down three percent in the long term not present an opportunity tell you touched on something called you know it's like people's emotional reaction to the corona virus and it doesn't look like there's an end in sight for that how can we prepare now moving forward if there is not so good days like today in the future well we're definitely concerned industries are getting hit by another car on the barbers had lined up you won't be here all along the streets you know airlines hotels casinos those are kind of bowling performance by research traveling around also some parts were not pursued health care sector probably a little bit more driven by Bernie Sanders for me and the feeling like pulling up in the democratic race so little bit of a reaction there are those two points kind of came together today and had some big call back tell you does such a great job of calming people's fears when a day like this happens what's your advice to people today they they see this they have sort of a visceral reaction that's not so great what would you say to people but you know again these numbers can be really scary headlines can be scary but they can have a chrome long term reaction when I'm never gonna have a kind of a motion they were acting you want to come to politics I think you have to invest in policies not politics yep the best in the long term and you have to have an ongoing conversation about risk and again the retirement assets we don't need for decades one home had long term vision is really important and you have been part of the house I get it as much as anybody else but we have to try to ignore the short term fluctuations can you compare the selloff amid a healthier health concern anything that we might have seen in recent years well we certainly look at some of the stars and the other viruses often get lonely speaking there's no unlimited three to five percent collection on a rebound a little bit quickly there's a little bit of information out there that may be a little bit different and could potentially spread differently than some of those wireless is missing in the Alps but again generally we see a pretty short term reaction that followed by a pretty quick correction when it comes to our four oh one K.'s everybody can relate to that and how it impacts you always talk about people that have five ten fifteen years to go what's your advice to people that are closer to retirement and how this impact could you know potentially be to their four oh one K. you know if you're close to retirement I certainly hope you're talking to somebody planning you know as you get into those final years of retirement after great time never gives you less if you're in a much simpler portfolio all of these sectors to kind of be a little bit more volatile you're just not going to be affected nearly as much on this parcel collection after the end of the show those losses earlier retirement are much more devastating and later saw him return their lives to risk make sure you're coming up with a better income plan on taking some risk off the table you know personal question for me Tony I'm forty I'll be forty one coming up this year what's great advice for someone my age how much should we be putting into retirement into a four oh one K. you know we really like to see people semiconductor people stand on their annual earnings at least honestly the more we can grow that member of the bachelor at a.

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