Transcript: Easan Arulanantham: So another question is kind of related to this downturn is my 401k is down substantially? You know, should I be doing anything to manage it or do to fix it? Tom Vaughan: Yeah, I’ve actually seen several articles about this, where the 401k A’s are obviously down, you know, the markets
Transcript: Marie Marinovich: How do I protect myself from investment scams? Tom Vaughan: That’s a good question that’s come up a couple times, actually. And it’s, it’s, uh, tell you a lot of the things that are happening happen to the senior community. And, you know, we, our average client is older. So you know,
Transcript: Easan Arulanantham: Why does this current downturn feel so much worse than the pandemic downturn? Tom Vaughan: Yeah, it’s a difference in pain, right? I mean, the pandemic downturn was more like that sharp, short pain, right? That you get, I mean, happens all the time you do different things hurts a lot, but
Transcript: Easan Arulanantham: Am I required to take Required Minimum Distribution if I’m still working? Tom Vaughan: Alright. So, up until I think it was 2017? The answer was definitively yes, no matter what. And so, back at that time, the minimum required distribution age was 70 and a half. And just to redefine this
Transcript: Easan Arulanantham: So this is a question about being concerned about the market: I have a trip booked, you know, my hotel and flight have already been paid for. I have the money budgeted for food and kind of all that entertainment expenses in my bank account. What are your thoughts about canceling this
Transcript: Easan Arulanantham: I’m nearing retirement, I recently heard about delayed retirement credits. And how do those work. Tom Vaughan: delayed retirement credits is a fancy word for the fact that if you do not take your Social Security at your full retirement age, you will actually start getting paid sort of a bonus and
Transcript: Easan Arulanantham: I feel a bit shaky with the market volatility and being in the stock market. What should I do? Tom Vaughan: Yeah, it’s kind of really the probably the highlight question right now. It’s just really, you know, what, what do I do? Right? I mean, we all got really used to
Transcript: Marie Marinovich: With China locking down, we hear a lot about the supply side interruptions, it seems factories are setting up closed loop bubbles to produce goods. What impact do you see on the market? Tom Vaughan: Yeah, so China’s the world’s, you know, supply chain, for all intents purposes, when they locked down.
Transcript: Marie Marinovich: Why does it take inflation so long to slow down? Tom Vaughan: Yeah, well, it does happen when it gets going. And one of the main things is this wage increase, right. So things cost more employees need to be paid more to be in the same spot. And inflation has actually
Transcript: Marie Marinovich: How does Ukraine Russia situation affect the US economy? Tom Vaughan: Okay, so the key here is we there’s a lot going on with Ukraine and Russia besides the financial aspects, right? So it’s always difficult to answer this question. But if we’re going to take a look at how this might