Along with social distancing, many of us have chosen not to check our 401K accounts right now.
THE CORONAVIRUS PANDEMIC HASHIT THE ECONOMY HARD-- ANDMANY PEOPLE HAVE AVOIDEDCHECKING THAT RETIREMENTACCOUNT.
TMJ4 CREATED "THEREBOUND MILWAUKEE" TO GIVE YOURESOURCES HELP YOUR FAMILY"MAKE ENDS MEET" DURING THISTIME.JULIA FELLO REACHED BACKOUT TO A WEST ALLIS WOMAN SHESPOKE TO THREE MONTHS AGO..
TOSEE IF HER RETIREMENT PLANSHAVE CHANGED.IN EARLY MARCH WE MET 54 YEAROLD KAREN NOVINSKA AT DRAKEAND ASSOCIATESWHEN SOCIALDISTANCING AND CORONAVIRUS HADNOT TAKEN OVER OUR LIVES.(ánatá)13:41:26 the only thingwe wanted to talk to you aboutthe lake house is possiblyrefinancing because the ratesare going downSHE IS THANKFULTHAT NEITHER SHE OR HERHUSBAND HAVE LOST THEIR JOBSDUE TO THE VIRUS.BUT HAS BEENFEELING THE PRESSURE AFTERHEARING MORE THAN 600-THOUSANDPEOPLE FILED FOR UNEMPLOYMENTIN WISCONSIN SINCE THEPANDEMIC BEGAN.(áSOTá) KARENNOVINSKA (NO-VIN-SKA) / 54YEARS OLD4:39 there's a lot ofbusinesses that aren't goingto make it there's a lot ofunemployment there's a loofnegative things going on inthe economyFINANCIAL ADVISORTOM NEUMANN HAS HEARD THISFROM OTHER CLIENTS AS WELL:(áSOTá) TOM NEUMANN/DRAKE &ASSOC.6:46 clients are fearfuland nervous and rightfully sothey've spent a lot of timebuilding up their nest egg fora future they have inside oftheir head(áSOTá) KARENVIN-SKA) / 54 YEARS OLD4:44 soits a general concern howthings are going to be a yearfrom now economicallyBECAUSEOF THAT UNCERTAINTY - NEUMANNBELIEVES YOU NEED TO STAY THECOURSE.THIS IS HIS BIGGESTWORRY IF YOU PULL OUT YOURMONEY.(áSOTá) TOMNEUMANN/DRAKE & ASSOC.10:52inflation erodes yourpurchasing power it erodesyour capability to pay thesame amount for the same goodsthat you're used toBUT HAVINGAN EMERGENCY SAVINGS IS STILLNEEDED.(áSOTá) TOM & ASSOC.6:15 keeping that 3-6 monthsof savings in the bank if youfall on economic hard timesyou have something to fallback onAND HE IS STILL PUSHINGFOR US TO PAY DOWN OUR DEBTSDURING THIS TIME.KAREN SAYSSHE'S HAD TO LEARN THE HARDWAY ABOUT NOT PAYING OFF HERCREDIT CARDS RIGHT AWAY.(áSOTá) KAREN NOVINSKA (NO-VIN-SKA) / 54 YEARS OLD8:01and didn't necessarily pay itoff when I was younger andthats something we do on aregular basis nowLEARNINGTHOSE LESSONS HAVE KEPT HER ONTRACK.AND SHE'S STILL PLANNINGTO RETIRE IN 5-10 YEARS.(áSOTá) KAREN NOVINSKA (NO-VIN-SKA) / 54 YEARS OLD5:21unless something changesdrastically I don't see thatchangingWHAT IS YOUR REBOUNDRUNDOWN?-Maintain a Budget-Deal with Debt-Boost YourEmergency SavingsFutuJULIAFELLO TMJ4 NEWS.DRAKE AND ASSOCIATES HAS GONEVIRTUAL TO OFFER RETIREMENTREADY CLASSES.THEY ALSO HAVE ACALCULATOR TO CRUNCH THENUMBERS TO SEE HOW MUCH MONEYYOU WILL NEED TO LIVECOMFORTABLY IN RETIREMENTHEADTO TMJ4 DOT COM SLASH REBOUNDTO FIND LINKS FOR MOREINFORMATION.
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Federal Reserve Chair Jerome Powell, in a sober review of where the U.S. economy stands on the cusp of its reopening, warned on..