EP 181: Emergency Stock Market Volatility Episode

In this episode of the Weekly Wealth podcast, certified financial planner David addresses the current

stock market volatility and its impact on investors. He discusses the recent significant downturns in major

indices, including the Dow Jones, Nasdaq, and S&P 500, emphasizing the importance of assessing

personal risk tolerance and time horizons when managing investment portfolios. David highlights the

concept of a "buffer asset"—maintaining adequate cash reserves to weather market downturns and

provide peace of mind. He also explores the potential benefits of annuities for guaranteed income and

non-stock market investments like private equity, which can offer diversification away from traditional

market fluctuations.

The episode delves into actionable strategies for navigating financial stress during turbulent times. David

encourages listeners to focus on controllable aspects of their financial lives, such as reviewing insurance

coverage and managing budgets. He discusses tax loss harvesting and Roth conversions as ways to

optimize tax liabilities during market declines. Additionally, he advises being mindful of spending habits,

particularly for those nearing or in retirement, to avoid locking in losses during downturns. For further

guidance, David invites listeners to reach out via email or schedule a complimentary consultation to

address their concerns and financial goals.

Here's something to think about:

How much risk am I comfortable taking with my investments?

Do I have enough cash reserves to cover at least a year’s worth of living expenses?

Have I considered tax loss harvesting to offset capital gains?

Would a Roth conversion be beneficial given my current IRA balance?

How often do I review and adjust my financial and investment strategies?

CLICK HERE to view Parallel Financial 20 Minute Market Update videos.

David Chudyk can always be reached via email david@parallelfinancial.com or you can schedule your meeting by visiting www.calendly.com/davidpf