The market’s down a bazillion percent (mom’s not great at math), your neighbors won’t answer the door (and for the first time ever, that’s a good thing), and the world seems upside down. Time to stop throwing good money after bad and call a retreat? On today’s show Joe & OG answer a TON of your questions about ANYTHING! While we received many questions about coronavirus we also field some about college savings plans, Roth IRAs, board games, and what we would have done if podcasting hadn’t been the huge massive financial hit that it’s been (sarcasm, kids…).

Plus, in our headlines segment, while everyone is panicking, luckily there are still journalists out there ready to write some pretty stupid financial pieces. What’s the latest piece of financial TP advice? We’ll cover that on today’s show AND save time for Doug’s trivia. Just another nearly 90 minute day in the office (AKA basement) for us!

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Show Notes: ads

<3:20> Headlines

• Roth conversions ‘on sale’ and other retirement advice amid the market crash (Investment News)
• 3 Reasons Not to Save in Your 401(k) (The Motely Fool)

<18:15> Ask us anything!

Make sure to tune into the show to hear all the questions and Joe and OG’s answers. Here were some highlights from the show:

With the current state of things (COVID-19) should we consider increasing our emergency funds?

-If you can only pick 3 board games for a 2-week quarantine, what do you pick?

Here are the games the guys recommended… they listed a few more than 3. What do you expect from a board game nerd?

• Ticket to Ride
• Pandemic
• Monopoly
• Viticulture
• Euchre
• Pony Express
• Vinyl
• Mystery Rummy – Murder in the room org (Edgar Allan Poe story)
• Mystery Rummy – Jack the Ripper (card game)
• Mr. Jack (card game)

-How do you handle a 529 plan in a recession?

-What books are helpful resources to better understand how you should approach things in the final years leading up to your retirement?

• The 5 Years before you retire
• Dr. Wade, FAO and Michael Kitces (blogs and online materials)
• Can I Retire Yet?
• How to Make Your Money Last
• Harold Evensky (More advanced, great nerd-out material)

<46:20> Doug’s Trivia

• Of the two breakfast powerhouses, IHOP and Waffle House, which company had the most revenue in 2019?

<55:56> Haven Life Line

• How do you make sure you’re not drawing down too much each year in retirement?

Want the guys to answer your question? You can call into the Haven Life Line and get your question answered on-air HERE.

Join us Friday!

When our roundtable discusses when should you have a backup plan? What happens when you don’t have one? …what’s the cost?