BOSS-EnteringRecession-4pm-2019_08_15

Speaker 1 (00:00):

So that brings us to the question. Are we entering a recession? And if we are, what do we do about it, Ryan? We're with boss retirement solutions. Joining us now with some insight on that matter, Ryan. Great to have you on the show. Thanks so much for being here,

Speaker 2 (00:11):

Glen. It's great to be here. That's the big question. Are we going into recession?

Speaker 1 (00:15):

Yeah. I want talk to you about that because I come, I came into work Wednesday. I saw the market and I'm like, what in the world is going on? And it was all this, uh, talk about recession indicators. Mm-hmm <affirmative> what were those?

Speaker 2 (00:27):

Yeah, what we saw is we saw the inverted yield curve in the bond market. In other words, just in plain simple terms, the 10 year bond was actually paying less than a two year bonds. When you see that indicator happen, it is typically a sign that a recession will be on its way.

Speaker 1 (00:44):

So do you believe that it is on its way then?

Speaker 2 (00:46):

You know, that's the crystal ball that everyone wished they knew that they had because the other factors out there is we are having good job growth and the economy has been strong. And so this is a time to not panic

Speaker 1 (00:58):

And to be prepared. Yes. Uh, talk about strategy. When we get into these times where the market is up and down, what's the best strategy to go with?

Speaker 2 (01:07):

So the first thing is don't have a need jerk reaction or make an emotional decision yesterday's drop in the market. That is a big drop, and that's definitely gonna get everyone's attention. Here's what you can do. First of all, step back. And remember that we've been in a 10 year run in the stock market. In other words, we've had a 10 year bull market, which is the longest bull market in the history of the stock market. And so you need to take that into perspective and then the next thing is have a plan.

Speaker 1 (01:34):

Okay. Uh, what about the trade war talk? We've seen the market really volatile over that as well. Yes. Is that playing a role in what we're seeing today?

Speaker 2 (01:43):

Absolutely. We've got all kinds of factors that are going to the market. We have the inverted, uh, yield curve. We have the trade wars with China. We have different concerns in the political environment. And so this is a time that you need to be able to make sure that you understand the risk that you're taking in your own portfolio. Mm-hmm <affirmative> many times Glen people set in their 401k. What they're investing in. They did that 10 years ago. Sure. It's been a pretty good ride. Well, now is the time to understand what your own personal risk is. You can't control what's happening in the rest of the market, but what you can control is your own individual plan. And that starts with having proper asset allocation and

Speaker 1 (02:21):

Diversification. And that all depends on where you are in the process as well. If you're like a couple years out, you wanna be looking at this differently than if you're still 20 years out. That's

Speaker 2 (02:30):

Exactly right. If you're 30 years old and you're planning on retiring at 65, you have three and a half decades. This is not gonna be as a, as big of an issue. But if you've are getting closer to retirement or you've recently retired, mm-hmm <affirmative>, this is the time when you need to understand what your risk tolerance really is. Because many families that we meet with for the first time, they're, they've changed that risk tolerance is they're getting ready, uh, to go into retirement. And what they really want is the Goldilocks portfolio. That's where right. It's just right for them on

Speaker 1 (03:00):

Risk. Okay. And you guys can help, uh, people with all these answers. One other thing I'll throw out there real quick is don't look every day. I do it all the time. And I think, man, I wish I wouldn't have done that. Uh, best way to contact, uh, connect with you guys. You

Speaker 2 (03:12):

Can give us a call. 8 0 1 7 0 180 8 81. Uh we're right here. We have six offices on the WASA front. We'd love to help you analyze that

Speaker 1 (03:20):

Risk. All right. And then your website right on the screen as well, boss retirement.com. Uh, thanks for the insight. Very important, uh, during this volatile time for us.

Speaker 2 (03:26):

Thanks, Glenn. Good to be here.

Speaker 1 (03:27):

We'll be right back. Stay with us.