Attorney-CPA Joe Cordell and co-host Jill Albers are joined by Peter Lazaroff, CIO, CFA, CFP of Plancorp, as they discuss the financial and economic implications of the Coronavirus pandemic. They talk about Peter’s background and what Plancorp does (4:30). Peter explains the impact that the Coronavirus has had on the United States market (5:01) and how the economy in both Italy and China have processed this pandemic in different stages (7:50).
Joe and Peter discuss what “flattening the curve” means (9:57), as well as possible “peaks” that we may see affecting the country from an economic perspective, including the possibility of a recession (13:55). Joe and Peter discuss the impact that existing debt has on the economic forecast. (20:00). Peter explains what he is telling his clients during this time of economic uncertainty (26:37) and how important looking at your financial plan is right now (29:25).
Peter talks about what he tells many of his clients who are over the age of 70 during moments of economic uncertainty in the market (32:00), as well as advanced estate planning strategies that many use to help them in the market. (35:35).