Attorney-CPA Joe Cordell and co-host Jill Enders are rejoined by Wealth Advisors and Certified Financial Planners Todd Oetken of R.W. Baird, to break down how the Coronavirus (COVID-19) pandemic has affected the practice of financial planning.
Todd talks about his interactions with clients and how the shelter-in-place orders have affected his clients (2:30), as well as how the market has impacted clients (3:55). He describes his feelings toward the pandemic and the emotional and social impact of it, from his client’s perspective (6:26) and navigates the complicated situation for those living paycheck-to-paycheck during the economic downturn of the pandemic (13:25).
He also explains the difference between an IRA and a Roth IRA (20:43), as well as long-term investments that are worth considering in a post-Coronavirus pandemic world (24:47). Todd breaks down what an ETF is (26:24) and why increasing one’s contribution to their 401K plan, if you have a stable job and have continued working throughout the pandemic, is a good idea (31:09).