What To Do With Your Money During The Coronavirus Pandemic

The coronavirus pandemic continues to wreak havoc on the global economy, with more than 20 million Americans out of work. However, the stock market remains open for business, and it has seen historically dramatic swings in the last eight weeks. For those fortunate enough to receive a steady paycheck amid the crisis, now might be a good time to cautiously consider investing in equities. Senior video correspondent Graham Flanagan talked to two world-renowned financial experts: Ellevest CEO and former Citigroup CFO Sallie Krawcheck, and Professor of Finance at the Stern School of Business at NYU Aswath Damodaran. He asked them for guidance about investing in equities, managing longterm accounts like 401(k) plans, and advice for people who received stimulus checks from the U.S. government. Flanagan also talked to Barstool Sports founder Dave Portnoy, a multimillionaire known for sports gambling who decided to try day trading in the stock market after the coronavirus cancelled all sports leagues. At the time of the interview, Portnoy told Flanagan that he had lost over $700,000.
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What To Do With Your Money During The Coronavirus Pandemic

[@ericforand6148]

I stopped smoking and drinking because of Coronavirus which would save me around $500 every month. I am going to invest that money in stocks going forward.

[@rachelbouchard9094]

Invest in alcohol, tobacco, marijuana and porn. They’re all recession proof.

[@christophephilippe3308]

That's right, Mr. Pawel made me invest just 10k in a porn stock in Feb. but as funny as it may sound, i've made profit around 12.5% from them alone, I wonder how he knows the right asset to invest in.

[@idamccaffrey6034]

I agree with you, it's barely two months since i began investing with Mr Pawel Olson and some of my stocks have shot up 65% already, glad i invested above 100k. majorly in zoom videos,amazon, netflix, everbridge and Dawn polymer (fabric company that produces facemask).

[@stevenbartlett7483]

Well Dawn polymer has go up over 400% since february, your protfolio manager really took advantage of the corona pandemic.

[@ashleyguillory8949]

I bought A LOT of amazon stock recently and I'm killing it. I'm so glad I bought it.

[@zakariaahmed864]

"What to do with the $11.50 in my bank account"

[@shadbhavsrivastava6112]

Buy underwear

[@lilpro6046]

Buy shares

[@bg6012]

I know right, not even enough to get a profile on any of the trading platforms.

[@prime_resistor]

buy glue and use it to make a little hat out of the remainder of your money

[@tnkv98]

Closed your account so you don’t pay the overdraft fees 😢 lol

[@laradise_pg]

everyone I know who got their checks immediately used it to pay their rent and utilities. We got up to 1200, not 12000. it's a good check, but it goes quickly when you're laid off and you still have to pay to live.

[@zsheincustoms]

Paulina Gurevich you also get money for children and spouse

[@Holt0216]

Helen G. Pitts oh boy... you sound like one of those get rich fast pyramid schemers XD go waste your time somewhere else

[@laradise_pg]

@@zsheincustoms you think 500 per child to last for a couple months is even close to enough? I dont think so. Kids are expensive

[@mattfavaloro350]

$1,200 that's too bad I'm Canadian and if you are eligible the government has already pre-approved as long as you remain eligible $2,000 a month for 4 months so $8,000 and that's over if it's still going payments will continue. America you say you are the richest the strongest the best country that there's ever been how come little old Canada is giving 8000 America's giving 1200 I thought you were rich you sure like telling the world you were so where's your money at now

[@allison4882]

@@mattfavaloro350 As an American I agree with you. Trump boasts about us being the richest country in the world yet where is the money in this crisis? I am glad Canada is providing the weekly money for you Canadians to see you through!

[@NANA-yh2wx]

I paid off my credit card. Saving 10% interest

[@EGonzEntertainment]

Same

[@Crimson_626]

I did the same also, pay off debt and be Debt free. Imaging getting you paycheck and not have it go to credit cards or a car payment? sweeeeet!!!!

[@NANA-yh2wx]

The second round stimulus I'm doubling my car payment

[@kevinowens3774]

Totally paid off a credit card too. We working from home so havent lost any income. No way we were gonna miss this chance to get debt free.

[@Crimson_626]

@@NANA-yh2wx Second round i think i am going to do something "FUN" with it this time.........going to BevMO!!!!

[@CaseyBurnsInvesting]

Thinking you’re going to get rich over night is a gambler’s mentality. Avoid that.

[@ingislakur]

wow, how did you become so smart.

[@hamzaazad4543]

👏

[@kermitdahpooh3282]

ZeroZ He’s saying the truth, why you mad

[@Zhaopow3]

Nah, just cause you can't doesnt mean I haven't

[@LennartRim]

Wall Street Bets, we invest in that dead bunny bounce.

[@alphatrusbensiii8381]

If you have debt that doesn’t add future value like a car , credit card Pay it off, If you in a mortgage you are better off using stimulus $$$ to add value to the house If you don’t have any debts that stimulus $$$ wouldn’t take a significant chunk out of it Invest it in learning a skill that gives you flexibility of location & intimate interaction Preferably online services , KZbin channels , entertainment , video editing , online marketing We don’t know how long this pandemic will last and once it does past EXPECT everything to cost more to get the economy back on track & this is over the span of 3-5+ plus years The best invest you can make is in yourself & the 2nd is in people who need to be invested into

[@WalterN34]

Wears a Shirt with „dont panic“ on it.. and panics 😂😂😂😂😂😂

[@lunarmoondoughnut6933]

If you don't understand stocks, don't buy them. It's as simple as that. You don't buy, you don't lose.

[@melisajayanti]

This an underrated fact.

[@lunarmoondoughnut6933]

@@melisajayanti thanks >w

[@sniperking8452]

Lunar Dragon You don’t buy you don’t win

[@eisa_6185]

A better suggestion would be to be invest in stocks by the help of stock traders

[@vincentvega6932]

Well if u never invest u do lose by depreciation of the dollar.

[@froggyziffle]

"If you have liquidity..." Aye, there's the rub!

[@VJ-bn1qg]

We live in a world where Netflix & sanitizer are expensive than oil, lol

[@dnlass460]

This video is more helpful than the daily news conference from POTUS !!!!! 😂

[@filipnestamarley]

ceo of investment app recommends investing your money. what a surprise

[@campkira]

they just want people to invest....

[@stevenyia2778]

Stay broke and uninformed 🤷‍♂️

[@Zeno7741]

As a FedEx driver I can tell you what people have been doing since the pandemic. Eating and online shop

[@UsserError]

I'm using my stimulus to fill in the holes in my Pokémon Card collection! This is super awsome!

[@colesullivan9659]

I don’t qualify for the stimulus 😢

[@ozanozdemir1601]

kzbin.info/www/bejne/qWq1hKytqL2NeNE

[@btd6pro693]

Why don't you qualify

[@katherinenguyen4482]

@Scribbli Chheery maybe they don't qualify because they're college students? Just because they're students doesn't mean they have all their financial needs under control. Even if their school offers money, it's not enough.

[@_lenasnow]

4:12 “find your excitement elsewhere please” love it 😆👍

[@eviehoneyrose]

Very informative. Thank you

[@fahimalvi9521]

I think it's a pretty easy answer. Save it for now and buy the essential products you need.

[@dhirajgawande007]

Really. Save for now

[@xXRedErrorXx]

Pepega

[@jj0493]

Fahim Alvi or spend it all on hand sanitiser and spend your days bathing permanently in it in order to protect yourself

[@toddkobell162]

JJ 04, much better

[@fahimalvi9521]

JJ 04 , Nah. I should buy toilet paper😁

[@VixGuyOfficial]

"Buy when there is Oil in the street..." --mainstream media

[@radianzero]

"What do you do with your stimulus check?" Me: *Laughs in European*

[@highschoolstudent7782]

Oh my God your so cool, I'm so jealous

[@ozanozdemir1601]

kzbin.info/www/bejne/qWq1hKytqL2NeNE

[@101yayo]

In the hospital, riddled with covid???

[@snowball7720]

I really do be looking for who asked

[@unknown81360]

All these angry entitled Americans in the comments hahaha

[@Tom-xy9gb]

Me: “Yes! I got my stimulus check!” Bills: “No, I got my stimulus check.”

[@luiscosmico8335]

0:31 The girl is using her phone upside down.

[@trollinr6735]

Lmaoo

[@toddkobell162]

Rip

[@priyanshurathore8085]

😂

[@elemercirpan]

Im dead

[@ashishnewbie6871]

eye of the eagle 😂

[@FinancialShinanigan]

There's only 1 thing to do: put it all on black.

[@bg6012]

Portnoy might have had a better chance.

[@ozanozdemir1601]

kzbin.info/www/bejne/qWq1hKytqL2NeNE

[@elemercirpan]

XD holy shit

[@SquidCena]

@@ozanozdemir1601 What does your dog have to do with anything? You shouldn't advertise on here dude...

[@DJ-vz2gv]

Black rock?

[@robertplata1766]

Great video thank you 🙏

[@ErrorPagenotFound-ig1cy]

Invested that stim check in index funds and didn’t look back afterwards.

[@CliqueOverAnything]

Lets see their investment portfolio instead of pure talk

[@beverlywaits7663]

I'm on a fixed income and staying with a relative in thier house (on Yess and trying to find my own place)!!!! YESS INDEED!!! NOW WHAT I Want To know is, How IN THE Heck I can move out Quickly and get my own place!! Because I'm SOOO TIRED OF LIVING UNDER SOME ONE ELSE RULES,I DON'T MIND RULES AS LONG AS THIER ARE NOT EVIL!! YOU SEE EVERY AND I DO MEAN EVERY TIME I TRY MY BEST TO SAVE A LITTLE OUT OF MY DISABILITY CHECK WITH WHOM I AM LIVING WITH, SOMETHING ALWAYS COMES UP, AFTER I'VE PAID WHAT I NEED TO PAY!!SO YOU SEE,I AM TIREDDD!!🙏🏾🙏🏾😔

[@anniekinsmishkamouse7575]

And people who do not file an actual tax return because their sole income is from the government and too low to be taxed, such as Social Security and SSDisability, are in the second wave which has no release date as of yet. Yet another great prioritizing by the powers that be.

[@curtiscarpenter9881]

Gold, currencies, or the value of current assets which like collectables which now are more liquid.

[@ggr3109]

I stopped go out . I lived at home . I wore my face mask.

[@jacktheconqueror3670]

Aswath’s idea of 4 buckets is really interesting

[@alexhero888]

Very goos

[@boomsuga]

Good content BI better than army recruit traininf

[@michaelphilip1]

@3:10 poor adobe hahaha

[@ankithsmenon4351]

Me: expecting them to teach not do investment and spend on essential . Buisness insider:talks about investing and stocks.which let's face it most of us are broke and don't know anything about buisness

[@obatola]

Kitges which is why they're talking about it

[@ankithsmenon4351]

@@obatola but I didn't understand

[@ozanozdemir1601]

kzbin.info/www/bejne/qWq1hKytqL2NeNE

[@joao8445]

obviously their target audience is not you

[@ankithsmenon4351]

@@joao8445 your right.im 16

[@vulinh5896]

I watched video of w5n and i come here !! Have a day to everyone..!

[@jankoakovic3564]

Would it be a good idea to buy great clips stocks or h&m because when the lockdown is over everyone is gonna get a hair cut and cloths

[@elemercirpan]

True

[@ErrorPagenotFound-ig1cy]

Idiot. Fuel. People will start traveling again.

[@911aaron]

Everyone is gonna need hair cuts, but it's not like they can "load up" on haircuts. I doubt you see a sustained sudden spike in demand over long periods. Valuation will probably return close to pre covid prices

[@MichelleStevens-hk2tg]

The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not investing like the rich for the future. Now look at the current economic crisis only those who invested years ago can survive this current situation.

[@MichelleStevens-hk2tg]

One needs to know the strategy of trading to avoid great loss.

[@lopezjoe857]

This is a perfect time for trading ....use the volatility to make the money ppl! I made 350k at 30% in 2019 for the long term on a cluster of stocks great year. The key is to stay headstrong and not be swayed by hysterical headlines. Don't make emotional decisions and stick to a tried and true investing strategy

[@santiagojonathan7620]

EXACTLY!! WHAT DO YOU INVEST IN IF YOU DON'T MIND ME ASKING?

[@lopezjoe857]

In 2years, I've been trading in the forex market and I've learned a lot from more experienced traders. Everyone needs help to become a true trader, and I am not sure if it is possible to get this help on a forum or by watching strategic videos but maybe in a real investment firm.

[@cjcole1005]

Great perspective Lopez Joe. I agree and am looking at this much in the same way. It is challenging, I am developing a new skill from experience. So I am dabbling and learning too, I have a job that pays the bills and allows me to do things I love to do. But, I tend to entertain the thoughts of changing how I make a living and spending more time trading online.

[@lyle_marie_ceniza]

It's better to save and invest for the future.

[@GeorgeDeLaRosa182]

could someone expand on what she means on keep it boring? is stock equity boring?

[@curtiscarpenter9881]

Look at value investing and the Kelly kriterion. There's some food for thought. Behavioral finance is something to see but not always follow.

[@quangducwoods99]

Good

[@jepoyburner]

Yeah. Don't try to outsmart the market, just invest on index funds.

[@tonyvalenzuela974]

That money came and went .

[@curtiscarpenter9881]

Use trading 212, ETORO, asset strip buy, buy bankrupt stock, and bitcoin and gold. Learn more before investing more, use dummy runs, use game theory.

[@theburners32141]

I’m not doing shit with it. It’s in savings because I know all of this money given out is for the rich and peasants. As a middle class citizen, I know the government is going to want its money back and I’m going to have it ready to go back.

[@joelcleare]

Already built a portfolio. Stim check goes to a future vacation.

[@eephann]

Cool

[@jvolstad]

I like index funds.

[@yasmeenm6435]

Gonna split my money and combine both methods!

[@klee-9741]

With the check they sent me I bought some rims n weed

[@knappy3483]

Save it

[@manueljosephcalma]

Mr. Portnoy invested during the downtrend.

[@sminthian]

I have some people at work that are getting into stocks because everyone else is talking about it. They're all daytrading, trying to buy something now and sell it next week. I always tell the new people "Don't do anything right now, this is like learning to swim in the rapids. You don't do that, you start off at a nice boring pool and maybe go into the rapids later."

[@vincentvega6932]

Start by using a mock investment tool to learn

[@michaeltribble6122]

Lmaoooooooo!!!! What to do with what !? 1200 frikkin dollars ? Pay rent and then wonder wtf is gonna happen next month while our "trusty gov" plays God with our livelihoods.....

[@lang8097]

You should be grateful, South east Asian countries don't even get help and the economy is still being shut down.

[@pukurinepurrinechoco4178]

My country even doesn't have any stimulus and rely for people to still work like daily with precaution

[@LennartRim]

One advice, buy high sell low repeat until rich

[@jeffreyd.4878]

Day 2, I’m homeless now

[@kato1to354]

How do you buy stocks I have online banking with TD that’s it

[@crystalmage2410]

Actually it's buy low sell high. Who buys an autograph Mike Trout baseball for $200 and then sells it for $90?

[@jeffreyd.4878]

Kato 1to3 use robinhood. Then move on to think or swim, Webull, and other more advanced brokers to trade when you have gained enough experience and knowledge. Use Finviz to recognize set ups when you learn about charts. You can use a app called stocktwits to read posts about other people’s opinions but beware there are plenty of liars on there selling emotions and dreams recognize them early on and you’ll avoid costly mistakes. Keep learning and good luck on your trading journey. I’m only 18 and I’ve made 50% in returns already in the month of April. It’s possible just learn and keep learning. Don’t pay anyone to teach you there’s plenty of free information on the internet that people are charging $100/month to “teach” you.

[@jeffreyd.4878]

Kato 1to3 also assuming that you have a job or not enough time in your day to day trade look into swing trading it’ll probably suit you and can make you income on the side along with your job. When you’re experience swing $1,000s of dollars (go all in) into stocks and when they become profitable in a day or two(usually 10%+ gains) sell and you’ll make hundreds of dollars and make sure you put those profits to the side and transfer to your bank and watch your bank account grow slowly but surely as time goes on 😎

[@riddhiaher7014]

Aswath deodorant 😂😂😂😂

[@pete3936]

Stonks

[@AhllanIgnacio]

Keep it for food

[@AlwaysAmTired]

If you're an average American, skip to minute 5. This video is really for wealthy people :/

[@josemine8863]

Oop

[@ahmadnajmiroslan]

*Just spend it on your basic necessities*

[@cerquedaz]

I didn't get mine yet

[@nothingtoitbuttodoit]

Pay your bills. Hold on to it and save it until all this has passed and we are in the clear and have gotten past the second and possible third wave of it. Once that has passed then you can evaluate what to do with the money

[@cruzmoreno2798]

Where are my Tesla yolo players at?

[@marquesjohnson2903]

Cruz Moreno booming 🏁🙌🏾

[@carl5959]

What to do with your money in this crisis? Well, if anyone has been paying attention during this crisis. i.e. watching businesses and individuals develop cash flow issues and go bankrupt, after just 1 month of reduced income. The answer is, KEEP HOLD OF YOUR DAMN CASH FOR A RAINY DAY 🤦🏾‍♂️🤦🏾‍♂️🤦🏾‍♂️ This attitude of, "any spare liquidity must be invested", is a clear indicator for modern business mentality, short term, minimal contingency, consistently working to 100% optimum. But, guess what, one thing goes in an unexpected direction, and bam, your in a whole heep of issues. Sometimes, leaving abit in excess is what needs to be done. But, too many people and businesses miss this vital point.

[@user-cq2sx8hi2v]

No money to think about investing

[@jojieriveral5035]

microsoft stock is underrated

[@SV42165]

1:17 yo zuck

[@ricarbo.]

im saving up to buy a ps5

[@jacob.4022]

k

[@minhngo1295]

Sau khi nghe theo hướng dẫn thì nghe rất ok nhưng hôm sau nghe lại thì ko nghe kip

[@tdolz]

Sending my money to Velvet Jones.

[@A_Casual_NPC]

What makes you think I have money?!

[@PsyQoBoy]

I would love to have a few million to invest with. And lose it like that guy.

[@Monk-Amani.]

So would I. I wouldn't lose it like that guy.

[@thisisgizze]

Pay by card not cash

[@autumnn4736]

Nothing, I didnt receive anything, lmao

[@CptKavlas]

Business Insider and Commentators: Because US citizens haven’t lost enough let’s get also their stimulus money through the stock exchange ! It’s just ridiculous instead of suggesting about UBI, bringing US manufacturing from abroad after seeing how critical it’s for the economy and advocating for better salaries as our generation has had far worse salaries than baby boomers despite the economic growth... just ridiculous and they practically lie in your face ...

[@physixg5514]

Those topics are being discussed elsewhere; this specific video is tailored toward individuals about actions they can take in the immediate future, and there are only so many options. It's not like focusing on finances and investing is mutually exclusive to addressing UBI and manufacturing.

[@101starting]

Buy bond's lol

[@elemercirpan]

Finally a good ass comment.

[@yupyup1562]

What to do? If you can, pay off debt.

[@elizabeththompson5030]

My name is Elizabeth Thompson and I'm asking if I will be getting a check from the stimulus package

[@elizabeththompson5030]

And I would like to see one in the mail and I live in saint Paul mn now ok

[@EvanLikesCake]

Elizabeth Thompson Lol ain’t the place to be asking

[@johnnymonster1394]

I’ll check, what’s your SS#

[@mattheww4019]

Pay off your debts and save... is there really anything else you should do

[@user-vi4xy1jw7e]

The host looks so serious the whole time. 😂

[@JoseLopez-eo4ze]

In summary: it's anyone's guess!

[@How.Dare.You.]

Day trading = gambling

[@jeffreyd.4878]

butterfflyess only when you don’t know what you’re doing. Try swing trading it’s less of a gamble and more flexible to work with

[@SagaciousEagle]

The question is, are the advisors Billionaires themselves?

[@tessatomiko]

Trust no one.

[@loganfaud01]

One check, everyone knows the rules

[@gioandikara3339]

"as worth the modern"

[@ohioboy7574]

What is paying off debt going to do for you

[@frofrostads7555]

meanwhile on BTC... march 13, 2020 brighten my day 😂

[@ninjanerdstudent6937]

Invest in Beyond Meat. Enough said.

[@deechicago25]

Hoard gasoline lol 😂 $$$$

[@fanofmany71]

If you don't live a debt life (live within your means - yes, you can if you WANT to), you or your family probably have some extra funds due to COVID-19. For sure, we are not going out to eat or for entertainment as much or at all so that's money saved. If you have kids, activities (that cost money) are shut down so there's savings there. You also probably realize that you can live without all those extras so more savings there. Just be wise with it - if this pandemic has shown people anything, except those living in poverty already, is that you should have an emergency fund instead of relying on the government. Squirrel it away - do you need that special coffee, brand clothing, etc. You know that another pandemic will hit and if you do not want to experience this again, build up your emergency fund. Cost of living? Move. I don't understand when people in expensive cities complain about COL - uhm, that's just how it is. If you want to buy a house that is cheaper, move to a place with cheaper houses. Yes, you can but if you WANT to is another thing. Again, those in poverty face different challenges so much harder for them and government should help them more. If you have a car or home and do not have money, you are not poor - you made yourself poor.

[@SalvadorSTMZ]

I have been wondering what to do with my money and I think I'll sit out of investing for now. Everything is too risky right now.

[@fvckcwrld714]

funny how they made the piggy bank for 401(k) look like a skull

[@hamzakhalid9707]

What about gold its the best

[@RyuukoGo]

It was a $1200 check...that won't even cover half my rent. Investing it was the last thought. Google closed at $1,267.60...

[@justrandomthings319]

That's your problem. You're looking at big tech companies like Google. Unless you have massive amounts of cash, you're not gonna be able to afford them in a way that makes sense. There are hundreds of other companies out there with good value or growth. You just have to look for them. Even big names like ExxonMobil could be had for cheap a few weeks ago. About 30 or 40 something dollars a share. This is great for a company with a pre-Covid-19 price of 80 something dollars. Alternatively, you can look at index funds that closely follow market performance. VTI, VTV, VOE are some good cheap ones.

[@RyuukoGo]

@@justrandomthings319 Aswath suggested Google stock .

[@otogigamer]

Sorry to say but most people are living check to check.