7 Ways To Make Money During Coronavirus

Hi, my name is Greg Phelps, I’m the president of Redrock Wealth Management and I’m also the publisher of the RetireWire blog and podcast, and I would like to thank you for joining us today on this webinar, “7 Ways to Make Money from the coronavirus catastrophe”. 

I really want to emphasize right now, I don’t want this to come off as flippant, or trite, or downplaying what’s going on in society as well as the markets, because there’s no way you can really downplay these up and down swings in the markets. There’s no way you can downplay the fact that my kids are relegated to home for the next several weeks and cannot go to school.

My job is and has been for 25+ years now is to focus on you, to focus on your financial planning, your retirement planning, your investment planning. So when I see an opportunity I’m going to take it, and this opportunity is basically to help you learn the things that you either should be doing, you should have done possibly, which will help you for the next financial catastrophe, and, and most importantly if you’re our client, the things that we’re already doing for you.


So I just wanted to thank you again for joining us on the webinar. I’ve got a lot of information to cover, so we’re gonna go ahead and dig right in. The first thing that I’d like to talk about is WOW … JUST WOW!. Now, I did a coronavirus webinar and effectively what I had learned in all of my research is pretty much coming to fruition.

The markets are actually pricing in a lot of nasty economic news forthcoming, and that’s because we have essentially grounded to an economic halt here in the United States and globally. And so there is a lot of fear, a lot of anxiety. Now, the fear and the anxiety that the average person, the average investor has, is very, very normal. Times like these when you look on the screen and you see the S&P down 10% or the Dow down 10%, and then the next day it’s up 5%, it can be very unnerving, very frustrating, and I completely understand that.

The anxiety, the frustration, the stress, it’s normal! Although, freaking out is not! And what I mean by freaking out is, is effectively saying, “Hey, I’ve gotta get out of the market, I gotta sell everything”. Your investment plan hasn’t changed in the last month, and your investment goals haven’t changed in the last month. The companies that you own haven’t changed. McDonald’s is still going to sell hamburgers, maybe not as many over the next few months, Coke is still gonna sell Coke.

You’re faced with this overwhelming desire to just stop the pain because that’s the way that our brains work. You’re faced with three decisions. You can sell. You can make the decision to stay the course since you had a plan in place. And finally, the third option is to say is there an opportunity here? Should I be buying? Should I be making some changes or adjustments in my portfolio that will put me ahead of the game as we come out of this forthcoming recession?

The most important thing I can impart upon you right now is to RELAX! So, I will also tell you these are things that we plan for every day with our clients. If you didn’t plan for these things it’s too late now. This black swan has already happened, so it’s a little bit too late to plan to protect yourself from an event like this.

This doesn’t mean that you can’t make adjustments, it doesn’t mean that you can’t put yourself on a trajectory to really do well coming out of a situation like this, and when you don’t know what to do doing nothing is always the best course of action.


There have been about five of these major epidemics going back to 2000. SARS had a 10% mortality rate, Right now, we’re dealing with the coronavirus, which is probably gonna be around a 1% mortality rate, but we don’t know yet because there’s not enough tests out there. We don’t know who all’s got it, and we don’t even know who’s recovered.

SARS: 20%.

Bird flu: 18%

Swine flu: 35%

Ebola: 10%

Zika: 17%

As you can see, in the following 12 months after one of these epidemics, the markets have come ROARING back.

My point is we’ve seen these, we’ve dealt with them, we’ve survived, we’ve thrived, we will do the same with this one. There’s not a doubt in my mind. 


The reality is we’re not wired right to be good, successful investors. And I mentioned on the last webinar the DALBAR Quantitative Analysis of Investor Behavior study that comes out every year the numbers are always very similar, but when you look at the average equity investor, the average bond investor, over 3, 5, 10 and 20 years, we typically underperform the indexes by around 3%.

So if the index increases 10% we’re getting seven, why? Why don’t we just buy the index and forget about it? Because of coronavirus, you see blood in the streets and red on the news screen when you’re watching TV, and you feel like you have to do something. Stop the pain, get me off this rollercoaster, right?

The truth is I completely understand that anxiety, but you gotta keep in mind we’re just not wired right to go out and be successful when we probably should be doing much better off by just investing with a plan. The most important part is the plan. If you don’t have a plan, and I’m not just talking about an investment plan, how much to put in this fund or that fund, that’s not a plan.

I’m talking about a full comprehensive retirement plan where it says when do you want to retire?  When are you going to take Social Security? How much do I need to retire? How are we gonna avoid the IRMAA tax on Medicare? When are we going to do ROTH conversions?  Do you have enough money to live?

There are so many things that go into a true financial plan, not just talking about investments and how much to put into this stock or that fund. Again, you have three decisions, you sell, you stay the course or you buy. So what do we do now?

If you’re going to sell, if you’re going to make that conscious decision I’m getting out of the market, stop the pain, I can’t handle it, that means that you either believe the market will never come back, it’ll never be at this level again or higher, or you believe that you’re smarter than everybody else, and you can buy back in cheaper. One of the other, there is no in-between.

So if you believe the market’s never coming back then you would sell and say I’m never going back into stocks. I’ve seen people do this. They think they’re just going to get back in at a lower cost but the reality is they never do, or if they do, the market has already recovered and they’re buying stocks at expensive prices


I’d like to encourage you to reread your investment policy statement (IPS). Now, if you don’t have an IPS, you should! The IPS is a document that advisors like myself build. It’s 15-20 pages of data and information on how we’re going to manage your investments as part of your financial and retirement plan. So think of it like this…how do you get from retiring to end of life, and how do you do so efficiently with as little risk as possible where you can actually accomplish all of your goals that you’ve always dreamed of, that you’ve built up all these monies to?

The investment policy statement says I’m going to invest like this, I’m going to use these investments and these percentages, I’m going to rebalance on these periods, I’m going to monitor it and look at it on a quarterly, or semiannual or on an annual basis, and anything else that happens along the way is noise.

Reread your investment policy statement, if you don’t have one you NEED to get one!

So you were there for the risk, you got to that dip, are you going to stick around for the reward? Just keep that in mind because the market ebbs and flows just like the economy over long periods of time. If you’re going to get out because you can’t handle the pain because you think you’re going to get in lower you have to be right twice otherwise you’re just getting out to buy in higher. So you save maybe three, six, or nine months’ worth of more volatility and gyrations, but odds are you’re going to be buying back in higher.

One question I have for you is if you weren’t in the market today and were sitting with cash on the sideline would you not be excited about this opportunity? The market is trading at a huge discount. I’ve said for years, “It’s like shopping at the mall. If a nice purse, which was originally selling for $100 is now on sale for $70. Not only will you likely buy the discounted purse, but you may even buy another since you know the sale won’t last long”.

If you weren’t in the market wouldn’t you be so excited for this opportunity to be buying in lower, and if that’s the case it really starts to change your psychology about what you do now with the investments that you currently have.


Now, one question that we’re getting, and it’s an interesting question, “Are my investments protected? What are you doing to protect my investments? Well, it depends on what you mean by protection. Your investments, your holdings, they’re not going anywhere. You own them, they’re insured.

Frankly, all the brokerages have these types of protections, but if you’re with TD Ameritrade you’ve got SIPC protection, and you also have additional protection through TD Ameritrade up to about $150 million. Now, that does not protect the value of your investments, that protects that you own those shares and if TD Ameritrade goes under you’re protected by the insurance company and by Securities Investor Protection Corporation.


So in terms of what are you doing to protect my investments really the question is, well, investing involves tradeoffs. If you want more safety that means you’re going to give up income and growth.

If you want more growth you’re going to give up income and safety because you’re going to go on the growth side of the equation.

If you want more income you’re gonna give up growth because you’ve got more dividends and higher-yielding investments, which also means you give up safety. So there’s always a tradeoff, and, the value of your investments is going to fluctuate whether it’s bonds, real estate, commodities, or equities, whether it’s U.S., international, emerging markets.

Again, there’s nothing that anybody can do to “protect your investments” unless you want to go all into the peak of the triangle with safety, in which case you just buy a bunch of CDs, cash, money markets, etc. Your investments are now “protected”, but now your growth isn’t there, your income isn’t there. So this is all a give and take strategy with every client, and, and their financial and retirement planning.

I prefer to look at “protection” as what do we do to reduce the risk? So one of the biggest risks that people take is to own individual stocks. So you might own Apple, and Amazon and all these individual stocks, well, that’s a lot of risk!

That’s what we call nonsystematic risk because you’re taking a risk with the market going up and down because they’re going to make Apple and Amazon go up and down. But you’re also taking a risk that Apple has a bad product, Amazon gets sued, etc. You’re taking an individual company risk.


At Redrock Wealth Management, we diversify that risk by owning asset class mutual funds, which are very broadly diversified. Our clients own over 13,000 companies across 43 countries as well as about 1,000 different bond issues, and assets the government can’t print like commodities, gold, and real estate. We also diversify the U.S. stock because we don’t want to have all U.S. stock in case our economy falters at one point in time into international stocks.

Finally, we’re gonna add bonds to your portfolio, and those bonds are actually going to bring down the overall risk. When stocks drop your bonds increase in value, which brings down your overall risk. When your overall risk is reduced down to a level that matches your plan (since you need a certain growth rate to reach your plan goals) you’ll do so in a way that you’ll be able to handle.

I want to talk briefly about the things that go into how do we decide what your asset allocation is? The first thing that we discuss is your risk tolerance, how much risk are you willing to bear? When you put your head on the pillow at night how much risk can you tolerate and still go to sleep? Everybody’s different and everybody looks at these things differently.

Then there’s the risk capacity, which is how much risk can you take and not be completely derailed from your ultimate retirement goals. The big question this answers is, “will your plan be okay”? If you were to take 75% stock risk, and you expected a bear market of let’s just say 32%, would that loss knock you off course? So now you have to go back to work, you can’t take the trip that you wanted to take, you can’t get the grandkids the gifts that you wanted to get them In summation, this is your risk capacity.

Finally, there’s the risk required. You may want to do things that you can’t afford to do, you may need to take more risk and have a higher long-term return to be able to do all the things you want to do with your assets. Conversely, there are clients that we have, several of them, they’re risk required is zero because they’ve saved, they’ve invested, they’re taking their social security and they’ve developed a plan which shows they no longer need to be risky in order to accomplish their goals.

Now, the important thing to know about this is in terms of risk tolerance we use something called Riskalyze, which is a very, very good risk tolerance questionnaire. It puts into dollar and cents what type of volatility you are comfortable with. The output of this questionnaire is a score, and that score will determine what portfolio mix is right for you.

Most importantly, I highly encourage you if your risk tolerance does not match your current portfolio, then you need to revisit this, and decide whether it’s worth it to make a change or not especially after we get out of this coronavirus craziness. Let’s say we go a year, two years, then we’re back onto a nice growth trajectory. You absolutely need to revisit this then and make sure you have these thoughts in your head when you’re doing it.

We always coach our clients to think about 2008 when you’re taking these questions. You need to make sure that your plan is up to date, and it’s very, very important that you do this.


We’ll take clients with their plan, and we’ll say, you wanna get from point A to point B. Is there anything that needs to be changed? Do we need to adjust? Do we need to pivot somehow? Because your plans may have gotten reduced. Maybe you’re okay not taking the trip next year, you’re going to put if off for two years because the market’s bad, so we need to update your plan.

And, so what you’re looking at is a screenshot of some of the planning work that we do where we’ll take a client who’s got a plan that’s not great, maybe it’s a 68 on the Monte Carlo scale, and we’ll make some small adjustments and get them up to a 73, up to a 74, up to an 85% probability of accomplishing all of their goals.

These are things that you need to take into consideration in reviewing your plan. Most importantly when you review your plan these include bear markets just like this. They include 2008 all over again throughout your retirement lifetime, and there’s actually a separate section where we can say what if the bear market is 20%, what if the bear market is 30%, what if the bear market is 40%, how does it affect you?

You’ve got needs, you’ve got wants, you’ve got wishes, and needs are putting food in the refrigerator. Your wants are, “I’d really like to buy a new car every five years”, and your wishes are, “I’d love to leave a million dollars to my alma mater”.

We’ll look at how these bear markets affect your needs, wants and wishes, and a bear market like this your wishes may go down to zero on that Monte Carlo scale while your wants may go to 45, but your needs are still 95% covered. These are critical things that you need to know to bring calm in times like this when the markets are incredibly volatile.

If you’re our client keep in mind we expected this like I just said, we’ve already built this into your plan. We had a client at our office the other day. Their plan went from only an 81% to a 79%. The market dropped at that point 20% and they lost only two points in the Monte Carlo! Needless to say, even with all of the market volatility, their plan held together just fine!


Your plan includes these black swan events, it includes bear markets, corrections, and even includes recessions. They’re all in there because we randomize your returns throughout your lifetime to make sure that you can accomplish all your goals.

At the end of the day do you want to accomplish your goals, or do you just wanna make money? I realize a lot of you think that making money will help me accomplish my goals, but what if you can accomplish your goals with less risk? So keep those things in mind, if nothing has changed with your plan nothing really should change with your portfolio outside of those three options, sell, stay the course or buy.

So I’m gonna give you some ideas, seven ways that you can actually make money during a time like this. Again, I don’t want to seem flippant. There’s a lot of people that are really sick and dying from this disease, but my job is to make sure that I help get out the best information possible to our clients, and to the people who follow us.


The very first thing is tax-loss harvesting. Now, what is tax-loss harvesting?

Let’s just say you bought stock, you bought SPY, that’s an S&P 500 ETF in the market. The Dow was up near the high at 29,000, now it’s down 30%.

So let’s just use some easy numbers. You bought it at 10 bucks a share and now it’s down to seven bucks a share. So you’ve got a $3.00 per share loss that you can actually lock in and write off on your taxes including up to about $3,000.00 of ordinary income. So, you would sell that SPY ETF, you would buy something similar, not identical, but similar, and then you would wait out the wash-sale rule, which is 30 days. I always say wait till day 31 because the day that you make the trade doesn’t count.

This tax-loss is going to help offset future tax gains and some ordinary income. So that’s one strategy where you can actually save money in taxes, and every dollar saved in taxes is a dollar earned, it’s a guaranteed dollar earned! One time where you do NOT want to do this strategy is if you’re in the 0% capital gains rate


If you don’t have a strategy for rebalancing there’s a real problem because times like these are when you want to be buying stocks assuming you’re staying the course or buying more. I personally don’t believe that rebalancing once a year is good enough. And that’s what most people do, it’s what most advisors do because the problem is we could have started the year at, let’s just say we started the year at 25,000. We went all the way to 30,000.00 on the Dow

Well, during that time we had opportunities to sell stocks and buy bonds. Guess what’s doing well now, your bond investments! Guess what’s not doing well, your stock investments! And in times like these last few weeks when the markets are off 30%, you have opportunities to buy stocks by selling bonds.

We look at this on a monthly basis no matter what, it doesn’t mean we trade monthly, but we look at this on a monthly basis. Right now in volatile times when the VIX, the volatility index, is ticking up and up. It’s triple what it was a month ago roughly speaking, we’re actually doing this more often. We’re doing it every week, every two weeks throughout that month, so we’re looking at this much more often.

 This is one of those things that you really need to have happening. It’s going to force you to buy low, it’s gonna force you to sell high, which is what every investor wants to do.


Now is the best time to convert an IRA to a ROTH IRA. You’re going to have to work with your tax advisor and financial advisor in order to determine the right amount, but your future taxpayer self will thank you, why? Because when we do IRA to ROTH IRA conversions what we’re doing is we’re pulling shares. So we may have that same SPY ETF, and we could have a month ago, converted a certain dollar amount at $10.00 a share. Now we can convert a whole bunch more at $7.00 per share!

So when that ETF goes back up to 10 we’re gonna have a nice little gain on it in the ROTH IRA only paying taxes on it at a depressed price. So we get more shares into the ROTH IRA when markets are depressed, so now is a great time to be looking at your IRA to ROTH IRA conversions.

Keep in mind, moving money into the Roth IRA is going to negate your required minimum distributions. If you look at the numbers when you’re 72, 75, 82, those required distributions on a large IRA can be massive, they can throw you into higher tax brackets.

You want to do planning especially now when markets are down to do these conversions. It also reduces the widow tax because there’s no tax on the ROTH IRA. When you’re married and filing jointly, you’re going to get a more preferential tax rate than when you’re single. Now, when I die my wife is going to be forced into a single filer bracket. When she gets into that single filer bracket she’s gonna pay more taxes on those IRA distributions and that’s a problem.

We want to avoid the widow tax or minimize it as much as possible. I know that our widowed clients to be paying more in taxes if we can take preemptive measures now to reduce that. If you’re going to hold the shares anyways you might as well move them over while they’re lower in price. Now, again, this is for the stay the course or the buy investors, it’s not for the sell now investors. So there’s no better time to do #3, convert IRA shares of equity assets that are depressed into ROTH IRA shares.

Work with your advisors to find the right amount to do. And I would add one more thing, you might want to err on the side of caution on the amount, there is no more recharacterization rules. So you might, if you’re thinking 40,000 was the right number you might want to do 25k or 30k, and then do the rest later in the year.


If you look at what the S&P has done after declines of 10%, the markets have rebounded sharply in periods since. 11.3% one year,  10.2% over three years and 9.6% over five years. To give you some frame of reference our projections on the U.S. and the international equity markets are around 7% per year.

If you look at the return when we’ve had a serious bear market catastrophe like this it is substantially higher. So keep in mind, increasing your equity allocation when we’re in a bear market is a great opportunity because in a couple of years, when we do eventually bounce back, hopefully sooner, you’re going to have more shares of equity to appreciate that you bought now at lower prices.


I don’t want to sound like a broken record, but this is critical. In the planning work that we do we will have clients where they’ll have a certain portfolio. The market may be rolling as we’ve had, an 11-year bull market, and we will look at this and stress test your plan. Essentially, what percentage of allocation, stock to bonds, makes the most sense for you now?

We’ll look at this and we will say, “by the way, John and Jane, you’re at 65% stocks. The market’s done so well the last three years you can accomplish all your goals if we drop you down to 55% stock, and you can have less risk”.

Conversely, in times like these when you see the younger in retirement, or not retired yet, we’ll say, “Hey, you are at a 65% allocation. The market’s dropped so much it makes a lotta sense to go up to 75% stock”. This is part of that stay the course with the plan. You’ll ask, “do I have a better retirement planning result if I increase my equity allocation, if I decrease my equity allocation, or if I stay the same?” These are things that you need to know to make great financial decisions.


Structured notes are basically a bond that has some equity-like characteristics. I did one last year and as you can see from the chart right the market was down 13% from where I had bought this note. The actual note is down 3% Now, what would you rather be, down 13% or down 3%?

We still expect that full 7% or so return through the maturity of this note, if we get more, if the market does more sometimes we don’t get it all, sometimes, in this case, we get a little bit of leverage. So you can see when we structure these notes, and I do these specifically for our clients here at Redrock Wealth Management, we can give you some downside protection, we can give you some upside return, and we can give you what will basically give you a better chance of delivering those numbers in your retirement plan.

Structured notes are fantastic for the right people, especially retirees, and you should consider them.


If you’re a saver, again, invest more now, this is a great opportunity! As of 3/13/2020 there was a 27% discount on the stock market. If you’re investing in a 401K you should up your allocation or up your contributions and do so now because now is the time to take advantage of cheap prices.

You want to build up the number of shares that you own, forget about what they’re worth today, they’ll be back soon and you’ll have great returns in the future, but focus on the number of shares that you own.

These are seven time tested, rock-solid strategies. You notice I didn’t say go buy an annuity or an insurance policy, or to time the market because that doesn’t work. These are tax and planning strategies that you can actually implement with your advisor, with us, on your own, that actually work.


Some real quick thoughts for retirees, this is very important if you are in the decumulation phase. Once you retire you can’t go make it back, or at least you don’t want to. You don’t want to look at the market and say, “oh, I’ve gotta go back to work, can I be a greeter at Walmart, or a barista at Starbucks?” You don’t want to do that.

Once you retire you can’t earn it again and this is very important and we understand that with our clients. Again, we plan for this, it’s time to use your bear bucket, and we hope, hope among all hopes that we do not have to use your bear slider.

So let’s go ahead and take a look real quickly at the bear bucket. What is a bear bucket? A bear bucket is a separate chunk of cash that’s set aside. Now, this cash, we put in Treasury Inflation Protective Securities (TIPS).

The important thing is this is your safe chunk of money, and you need to have projections for the next one to two years out where you say, “okay, for the next year I’m going to spend $60k. $60k needs to be in my bear bucket”. Lately, or the last few years we’ve been beefing that bear bucket up to about 18 months, so now we would effectively say $90k needs to be in the bear bucket.

What happens now? Because you’re taking your retirement income monthly we’re going to shut off the spicket from your normal portfolio. Your normal 65% stock, 35% bond, balanced portfolio, we’re not going to rebalance that and send you money, we’re going to rebalance that and buy the stock at the best possible times, then we’re going to send you your cash from your bear bucket. You need to have this set-aside, this is your dry powder, so you can buy stocks when they’re cheap, not sell them when you need cash.

The worst possible thing that we tell our clients is selling stocks in a bad market. You cannot recover from that when you’re retired.

We’re going to be calling our clients and saying, “Hey, we’re going to start sending you cash from your bear bucket, we’re going to send it for the next three months, and we’re going to reevaluate in two months. If the market is still in bear territory we’re going do another three months, and another three months, etc.

The question that we’ll get is, “well, what happens if you run out of our bear bucket?”. It’s possible that we run out of the bear bucket. If we do, number one, we know that we’ve been rebalancing into stocks at lower prices, and number two, we know that we’ve got a depleted bear bucket. So if the market still hasn’t returned to out of bear market territory back to more normals, we’re going to make a conscious decision to not sell stocks to get you your retirement income. And what I mean by this is we’re only going to sell bonds, now what does that do to your portfolio?

Number one, we can’t rebalance into stocks anymore because we’ve already run out of that dry powder, that bear bucket, but let’s just say that you’re a 65%/35% investor (65% stocks), and we consciously decide we will not sell stocks, we’re only going to sell bonds to get you your retirement income until we get back to out of bear market territory.

For most clients that has the effect of increasing their equity allocation by about a point or two per month. So after a year, it’s entirely possible just from this example as you can see, that you might be 6% higher in stock, you might be up to 12% higher in stock.

This is a little bit on the conservative side as far as the example, but it’s possible, so that would increase your stock allocation by default.

Just by using this strategy your stock allocation is going to go up. When is it going up? When the market has been in a depressed bear market for a long time. So we’re not going to stay in bear market territory forever, you know that!

A month ago we were at all-time highs, we will get back there, but this is forcing you to take more equity allocation at the absolute best possible time when things are cheaper.


The coronavirus has been absolutely crazy,  I’ve never seen anything like it in 25 years. There was ’01, there was 9/11, there’s ’08, The Great Recession. We’ve seen SARS, Ebola, MERS, we’ve seen all these things, this too shall pass.

I know it’s not easy, I understand it’s frustrating, it makes you anxious, it makes you nervous because you can’t see the future, I get that. I would bet on one thing, I would bet on the American economy to roar back at some point in time, so relax, and take a deep breath.

Make sure you re-read your investment policy statement. It’s critical because if your investment policy doesn’t say freak out when the market tanks then you shouldn’t freak out when the market tanks. You put this investment policy in place for a reason. It is literally the roadmap, the blueprint, that you follow with your investment plan, and again that’s just the gas that goes into your retirement plan.

Position yourself to make some money off of this. Are you tax-loss harvesting to lower your future tax burden? Are you doing ROTH conversions? Are you, are you looking at buying more, increasing your equity allocation? Are you updating your financial plan to see if you should take more equity allocation? Position yourself to make money coming out of the other side of this nastiness.

Finally, turn off the TV, I know it’s hard to do.

Don’t look at your investment accounts. If you look at your portfolio, and you look at the values and it freaks you out, you’re going to be inclined to stop the pain. Chances are, it’s not as bad as you think because if the market’s down 30% you still got a whole bunch of bonds that are probably up a little bit, and depending on how much in bonds you have it could really offset a lot of those losses.

Plus we’re diversified, plus we’ve got structured notes, plus we’re rebalancing and buying stocks cheaper, plus we’ve got a bear bucket in a bear slider strategy in place. We’ve got all these things in place, so if it helps just turn off the TV and don’t look at your investment portfolio.

I really want to reach out to you and say if you don’t have a plan, if you don’t have an investment policy, you need to talk to us. If you’re our client we know you’ve got it, we know that we’ve planned for all these things, and we know that we’re rebalancing these things for you, and we’re looking at bear buckets and bear sliders, and we’re going to execute on those.

But, if you don’t, if you’re not our client, if you’re not working with Redrock Wealth Management you need to have these things, and if you can’t just say email your financial advisor, or look on a file folder on your computer and pull up your investment policy, or your financial plan, that’s a problem because you need that the most in times like now.

Thank you very much, my name is Greg Phelps, president of Redrock Wealth Management, publisher of RetireWire. Please reach out to us through the contact page, www.redrockwealth.com or www.retirewire.com. If you’d like to come in for an in-person meeting, phone call, or a video conference, you can do that through the website. Thank you very much, and have a great rest of your day, THIS TOO SHALL PASS!