Transcript

Hello, I’m Ken Moraif, Senior Retirement Planner and Founder of Retirement Planners of America, and this is our market alert video for the week ended February 14. And of course, that means that this is Valentine’s Day weekend, and so, I wish all of you all the love that is available to you as possible. So, as we review last week, we did not have very much news with regard to the politics or with regard to financial information. It was a relatively benign news week, and because of that, when there isn’t any bad news, the market tends to go up, and that’s what happened last week.

Now, there was new information with regard to the coronavirus, and that is China now has relooked at how they measure who has the infection, and the number increased over 50,000. And so, there’s a lot of concern about the reliability of the data that we have been getting from China, and perhaps this is a worse epidemic than we at first thought. Now, that certainly means that it could devolve into a pandemic, and we’ve talked about this in our previous videos, but we still believe that it is something that will be contained and will not become a pandemic, which is when we have millions of people that are dying from it, and economies are shutting down, and recessions ensue — bear markets come from that. We don’t see that happening. As a matter of fact, we still are strong in our conviction about our fearless forecast of the Dow hitting 31,000 later on this year. So, even though that news on the coronavirus was not good, the rest of the economic news still seems to be positive, particularly here in the United States with our economy seeming to be strong. The jobs are increasing, and also wages are rising, so all of those things bode well for the future.

So, as you guys know, things can change in the blink of an eye. We all probably remember back to Y2K and 2008 when things seemed to be going swimmingly, and then all of a sudden, it turned and went straight south, and that certainly can happen again. And so, we are always — since we work with people who are retired or retiring soon — we’re always concerned about that downside, because if you’re within 5 years of retiring or you’re into your retirement, that big downside coming could change your life. If you have wages and you’re 30 years old, it not necessarily would change your life from an investment standpoint, so not such a worry. But if you are in that retirement zone, as we call it, then we want to make sure that we don’t experience those large losses if we can, so our invest and protect strategy is in place. We are not at a point now where we are concerned that we’re going to hit it and get out, but if we do, and we do, we will tell you – hey, that rhymed. So right now, things look good. We thank you.

Now, if you are retired or retiring soon, we encourage you to make sure that you do have a sell strategy, a strategy to get out and protect what we call your magic number, which is the amount of money you need to retire on to provide you with the lifestyle that you want. And if you don’t have that, we would love to visit with you and talk about the entire picture of your retirement from Social Security to your 401(k), to your diversification, to your risk profile, and of course, having an invest and protect strategy as well.

So, thank you for watching this video, and we’ll look forward to talking to you soon.