Wed, 23 November 2016
In case you haven’t noticed, the recent election has had a pretty significant impact on the strength of the dollar worldwide. The U.S. dollar is actually gaining strength in the world economy - it’s at a 13 year high - and it’s in large part because of what financial gurus around the world believe is going to happen in the U.S. economy because of the election of Donald Trump. But do you know what impact the growing power of the dollar will have on you? If you want to hear how this phenomenon happens, why it happens, and what it means for you, I’ve got you covered on this episode of The Retirement Answer Man.
Do you understand what the FOREX market is?
The term “FOREX” stands for “Foreign Exchange Market” and it’s where people worldwide trade in currencies. You may not have even known such a thing happens. But anytime you go to another country and you have to trade U.S. dollars for another currency, you’re taking part in a FOREX style trade - one currency value compared to another and exchanged in kind. With the rising value of the dollar these days the FOREX market is going a bit nuts at the moment. Find out why and what it means for you on this episode.
Is your long-term care policy safe even if your company is no longer providing long-term policies?
After my comments on the last episode of the podcast about John Hancock’s announcement that it will be getting out of the long-term care business, some of you were a bit concerned. You have JH long-term policies so you’re wondering what’s going to happen to that policy. On this episode, I walk you through the scenarios of what typically happens when a large insurer like John Hancock makes an announcement of this type, including how they take care of the policy holders they already have on the books. I think you’ll find that it’s not as bad for you as you may be fear.
Should long-term market averages impact the way you draw cash from your retirement account?
A listener to the podcast wrote to me this last week pointing out that long-term averages indicate that market downturns are almost always corrected over time. Looking at that fact he suggested that because the market will correct itself in time we shouldn’t be so concerned if we are living through a market downturn during retirement. But I’ve got a slightly different take on the issue simply because even though the facts and figures do add up just like he’s saying, we are emotional creatures and aren’t always able to live with the reality of what’s happening around us. You can hear my entire train of thought about the subject clanking along the tracks, on this episode.
What retirement-related issues do you want to hear on this show?
It’s time once again for my annual listener survey. It may not sound like a very exciting thing for you to take part in but the responses I receive from the listener survey are the primary way I determine what I’m going to be talking about over the next year’s episodes of the podcast. I’d really love to get your feedback and input. It’s a great way that you can help me help you! If you’d like to know how you can take part in this year’s survey I cover it step by step on this episode of the podcast so set aside some time and give it a listen.
OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN
WHAT DOES THAT MEAN? SEGMENT
HOT TOPIC SEGMENT
PRACTICAL PLANNING SEGMENT
TODAY’S SMART SPRINT SEGMENT
THE HAPPY LAB SEGMENT
RESOURCES MENTIONED IN THIS EPISODE
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Direct download: RAM146.mp3
Category:general -- posted at: 6:00am CDT