Ep 9: Social Distancing Your Finances

Some investment options shouldn’t be anywhere near each other because they have totally different goals. Let’s apply the popular social distancing phrase to our finances and look at four situations where these products need to stay separated.

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The Game Plan

No matter where you turn right now it’s impossible to avoid the phrase social distancing. It’s on TV, in the news, and all over social media. And while it’s an important to follow the guidelines to isolating ourselves, it can drive you a little crazy hearing it over and over again.

So we want to switch things and take a different approach to social distancing. What would it look like if we applied it to financial planning? That’s what we want to sort out on this episode of the Retirement Playbook.

Dale Tondryk will take us through four different examples of products that need to stay separated as you build a plan. Take the first one for example: emergency fund and the stock market. It’s tempting to take that emergency fund money and try to get a better return through the stock market, but what would happen to you in this current environment? All of a sudden your emergency fund would have lost significant value when you needed it most.

So join us as we Dale explains that one a little further and helps us understand three other areas where social distancing in necessary in finance.

Remember, if you need help with your finances right now, please reach out and set up a time to meet with us. We’re taking virtual meetings as well so you don’t have to worry about leaving your home.

Now on with the show. 


The X’s & O’s

Check out the timestamps below to skip around to specific topics on the show.

[0:30] – Let’s have some fun with social distancing.

[0:53] – Keep your emergency fund and the stock market separated.

[1:57] – Distance life insurance and our investments.

[2:44] – Distance high turnover investments strategies and after-tax brokerage accounts.

[4:40] – Distance our emotions and our investments decisions.

“It’s painful for people to watch some of those retirement accounts go. But I try to remind them that your retirement plan is not based on emotion. You have a plan here and it’s working.”

– Dale Tondryk

More To Explore

Ep 73: Getting it Right: Irreversible Financial Decisions

There are plenty of decisions that you’ll make in the retirement planning process that can’t be undone, so you want to make sure that you make the right call. In this episode, we’ll explain why these decisions are so important and can’t be undone.

Ep 72: Can’t Get No Satisfaction… Or Can You?

Want to know the secrets to experiencing satisfaction in retirement? We’ve discovered five key situations in which your financial plan needs to lead you. If you can key in on these five points, you’ll have a high chance to achieve retirement satisfaction.

Ep 71: Going Against the Grain to Achieve Your Retirement Goals

Being a good advisor isn’t about winning a popularity contest or just saying the same things that everyone else in the industry says. It’s about giving the best advice that you can for each individual situation. On today’s show, we’re going to peel back the curtain to discuss some areas where a good financial advisor’s opinions might go against the grain with mainstream ideas in the industry.