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Applying Social Distancing to Your Finances
Created: April 10, 2020
Modified: June 6, 2023

Applying Social Distancing to Your Finances

What You’ll Learn:
Each of us has heard the phrase social distancing over and over again since the coronavirus outbreak began and it is great advice. What would that look like if you applied it to your financial planning? Let’s look at different investments and strategies that you should keep separate from each other.

You can’t turn on the news or read the internet without seeing someone mention social distancing.

Who knows when this phrase actually started, but there’s a good reason for it being used so often. We all want to get back to our normal lives and return to work, and the sooner we all take social distancing seriously, the sooner that can happen.

But we’re not here to talk about the social distancing you need to do with friends and neighbors. We want to talk about the things you should be distancing from each other inside your financial plan.

So this episode of Money Wisdom will look at four different examples of how this action should be applied to your investments and cash. For each of these we’ll explain why these things should never be used together. They are meant to be separated to keep your portfolio balanced.

It’s going to be a unique conversation on financial planning but one that really makes a lot of sense in this day and age. Hopefully you stick to social distancing in all aspects and keep yourself physically and financially healthy.


As you can imagine, we’ve been getting a lot of questions both over the phone and for the podcast relating to the coronavirus and the stock market. The losses have been significant for many people and it has forced investors to take a hard look at their portfolio, their plan, and their options moving forward.

Today we have two questions from listeners that result from economic downturn. The first asks about gold. Is this an investment you should be adding to your portfolio right now? Joel gives his thoughts on this idea and why gold can be a good investment in certain situations.

The second question is about annuities. You’ve probably heard a lot of opinions on whether annuities are a good idea, but this listener is considering the option again after the market dropped. Is it too late to make this move? We’ll find out what Joel thinks on the show.

Thanks for listening to this episode. We’ll be back again next week for another show.

[0:20] – We’ve been hearing a lot about social distancing so let’s apply it to finances.

[0:40] – Let’s start with your emergency fund and the stock market.

[1:37] – Keeping life insurance and investments apart.

[3:41] – Next is high turnover investment strategies and after-tax brokerage accounts.

[5:11] – Keeping your emotions and your financial decisions from spending time together.

[6:35] – Mailbag question #1: With all the craziness going on right now, is this a good time to buy gold?

[8:03] – Mailbag question #2: I looked to move some money into an annuity for protection about a year ago. Now that the market has dropped, this moves looks appealing. Is it too late to this?

[9:54] – If you need help right now, here’s how to get in touch.

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