RL046 - Retirement Lifestyle: No Holds Barred Look at 2020

On this episode of the Retirement Lifestyle Show, Roshan Loungani, Erik Olson, and Adrian Nicholson review the highs and lows of the year. They discuss the different trends that made it to the headlines, the most searched terms, and effects of the pandemic on our social and financial wellbeing. The pandemic might have affected your normal way of living, but a new year is just around the corner.

[02:27] The Year in Review

[06:50] This Year’s Most Popular Online Search Results

[24:04] The Effects of The Pandemic

[31:17] Business Continuity Plans

[31:58] Fast Declines and Faster Recoveries of the Markets 

[34:50] The Time it Takes to Come up With a Vaccine

[39:30] Silver Linings

[44:38] High Impact life

[48:30] The Regular Things the Pandemic Deprived us

  • Roshan Loungani can be reached at roshan.loungani@aretewealth.com or at 202-536-4468.
  • Erik Olson can be reached at erik.olson@aretewealth.com or 815-940-4652.
  • Adrian Nicholson can be reached at adrian.nicholson@aretewealth.com or at 703-915-8905

 

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The Year In Review

To some people, 2020 might be the year everything went south, but this year was full of blessings and prosperity to others. Nevertheless, we’re all glad that we’ve come to the end of the year, which means it’s an excellent time to review the year and reflect on the good things that happened. If you can’t find anything positive, take all the bad luck that befell you and use it as a learning opportunity. There is a considerable possibility of things remaining the same in 2021, so it would be best if you prepared yourself mentally.

 

Most Popular Online Search Results

This year being that of an election, meant that Americans had to push the pandemic a little bit to the side and concentrate on choosing their future leaders. The fact that the election process lasted for a couple of days made it tiresome to some people who were only glad when it all came to an end. The next items on the list were all related to the pandemic. From how to make a mask and cut your hair to the home together concerts and fire truck happy birthdays. 

 

Effects of The Pandemic

The pandemic brought about many lifestyle changes, but the most notable development affected our financial situation. People lost their jobs, and the ones that were already struggling found it even harder to make ends meet. The number of people that lost their lives is also saddening because we lost close family members and companies lost irreplaceable experts. Notwithstanding, some people lent a helping hand to the needy, which is commendable and laid bare that humanity still exists.  

 

Business Continuity Plans

From a business perspective, the pandemic weeded out the weak business making it easier for the strong businesses to thrive post-pandemic, thus creating more job opportunities for the unemployed. This might not make sense but think of it this way; weak businesses make less money; therefore, workers get paid less. However, significant and thriving businesses make more money, thus guaranteeing that their employees get paid more. If you are a business owner, take this opportunity to shake things up and develop better strategies and ideas to help you adapt if something like this ever happens again. 

 

Fast Declines and Even Faster Recoveries

With so much going on and people panicking, many people made rash decisions concerning their finances. This meant that the markets suffered a swift decline but an even faster recovery when people realized that the pandemic was here to stay. The positive part is that the volatile markets made people take a step back and reevaluate their financial plans and how they intend to invest in their future. 

 

The time it Takes to Come up With a Vaccine

In the past, scientists and researchers took an average of five years to successfully come up with a vaccine, run trials and tests, and distribute it to the masses. However, with the pandemic affecting people worldwide, there was a growing need for vaccine specialists to develop a vaccine in the shortest amount of time possible. This not only opened doors for more experts to join in the fight, but it also led to technological advancements in the medical world. More than four companies are running trials on their vaccines, with some reporting an estimated 95% efficiency, which is actually quite impressive. 

 

High Impact Life

In pursuit of joy or fulfillment, people can use their skills, talents, and resources to help themselves or come through for others. This can be through shopping, investing, and most notably, charity. Nevertheless, not every charity out there is worth paying attention to. Some are there to make money and disappear. If you are looking for a charity organization, log on to World Magazine and look for the organizations that fit your interest area. The World Magazine awards charities making positive contributions to society and gives them a platform to get noticed by even more donors. The stand out feature of these awards is that they incorporate every single industry or area of interest that you might think of.  

 

The Regular Things The Pandemic Deprived us

The pandemic might have restricted movements or played a part in how we get involved in our children’s education, but it certainly robbed us of everyday things such as handshakes and hugs. In the coming year, things might get better, or they might not. You may still be forced to watch your favorite team in the comfort of your home or get your groceries delivered right at your doorstep. Even with all these things happening, never lose hope, keep dreaming, and keep doing what you do. Things will soon go back to normal, so you’d better be ready when that happens.

Disclaimer Welcome, you are now listening to the retirement lifestyle show with Roshan Loungani Erik Olson and Adrian Nicholson. This show is an exploration of ideas to help you work towards your ideal retirement. Roshan Loungani and Erik Olson serve clients across the US. They offer financial planning and investment advice through Arete Wealth Advisors, LLC, an SEC registered investment advisor and securities through Arete Wealth Management LLC, member FINRA, SIPC, and NFA. Get ready for the financial independence of your dreams. All opinions expressed by podcast hosts and guests are solely their own are based on information they believe is reliable. Neither Arete Wealth nor its affiliates, warrants its completeness or accuracy, nor do their opinions reflect the opinion of Arete Wealth. This podcast is for general informational purposes only and should not be regarded as specific advice or recommendations for any individual. Before making any decisions consult a professional. Finally, our music is the chance by Jason Shaw and Audionautix. It’s part of the YouTube Audio Library and it’s licensed under a Creative Commons license.

Thank you for listening.

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