Good Life Companies is a conglomeration of companies in the health and wealth space.
The company sits with more than 200 licensed individuals serving north of 50,000 families around the United States. Within GLC are a number of companies that include a general insurance agency, a technology company, a property and casualty agency, an RIA (registered investment adviser,) and other lifestyle type businesses that equip our financial advisers with the best tools and resources to serve businesses and Middle America.
Good Life is a company built by financial advisers for community-centric financial advisers.
LVB: What are the biggest national and world events that are impacting the stock market and investing right now?
Delaney: Right now, the obvious talk is about coronavirus. Personally, 60 cases in the USA amongst 340 million people isn’t something I’m going to hide in the bomb shelter about, but the concern for the market is that if people are not out and about spending money, it could have a negative impact on earnings. The other issue that will take the main stage is the election. Whenever there is an election, there tends to be more volatility and it looks like we are already seeing early signs of that. Volatility is not necessarily good or bad, it just becomes a part of the everyday normal.
LVB: Many in the financial industry have been worried about a recession. Are you concerned?
Delaney: My first manager told me “the market goes up all the time and over time… just not every day.” Personally, I’m a long-term investor so I’m not concerned with a recession because I have a long-time horizon to recover. However, everyone has to address their own “runway,” so to speak, with regards to their ability to recover in the event of a recession. This brings up the main reason why people should seek the help of a financial adviser and not just rely on the data that the robot shows them. People need people to help them handle the emotion that goes along with risk and the interpretation of data as it relates to an individual’s specific situation. I always tell my friends to find an adviser that has nothing to sell. Someone who is able to give you objective advice and can get you what you need because he/she is not contained to a certain product that they represent. Having objective advice is critical.
LVB: If a person was looking to secure their money in case of any downturn, what would your advice be?
Delaney: There are many different types of risk; in this case, the risk of a downturn or the risk of lost opportunity. How many people pulled out of the market because of the fear that was instilled into them before the last election and have been waiting for a pullback to get back in? Others have participated in the “opportunity” and made 20 or 25% last year. Clearly, one of the safest places would be a CD or a savings account but if you were there last year earning 1-3% while your friends made 20%, how did that make you feel? Consequentially, the snap reaction would be to “follow their lead” and buy what they have. Unfortunately, buying the house after it appreciates by 25% goes against the theory of “buy low, sell high.” It is the human nature and emotion kicking in that causes us to act this way. Two or three moves like that could jeopardizes a lot. That’s why the objective advisor is there to help.
-By Stacy Wescoe