Ep #04: Inflation, Market Drops & Grown Kids
Dealing with inflation and a market drop is enough to make a lot of people nervous and uncertain. In this episode, I’ll be sharing some insight into these areas to give you a better understanding of the inflation situation, market downturns, and what you can do to be financially proactive. I’ll also be weighing in from a dad’s perspective on having grown kids who are dealing with everything going on and how to help them navigate it all.
Listen in to gain insight into the current economy and what needs to be done to find stable financial footing amidst it all. From areas of your portfolio to take an extra look at to long-term planning and winning strategies you can implement now, there’s so much you can be doing to ensure a more secure financial future. You will also hear about the changes going on in the market and the various strategies you can employ to create an appropriate investment strategy.
Listen to the Full Episode:
What You’ll Learn in Today’s Episode:
What inflation is and the dramatic increase that happened in recent years.
Where inflation is hurting the most, why it happens, and what is done to combat it.
How to plan long-term to avoid the negative impacts of inflation.
What to do if you’re planning to retire soon.
The current status of the market and recent changes that have happened.
The most prudent strategy to use when investing.
Why you need to measure your risk tolerance and how to develop proper asset allocation.
How my dad impacted my own fatherhood and financial decisions.
The real-life issues grown kids are going through and how to be there for them.
Ideas Worth Sharing:
“The normal average long-term inflation rate is about 3.24%. Over the last 20-30 years, that number has been about 2.5%. We received reports in May that the annualized inflation rate is 8.6% and the report before that, it was 8.3%.” - Stanley T. Funches
“It’s important for us to deal with inflation because, from an economics standpoint, it’s a huge negative on long-term growth, we lose purchasing power, we buy less… and it hurts the lowest fixed income recipients the most.” - Stanley T. Funches
“If inflation persists, real estate tends to be a good place to be.” - Stanley T. Funches
Resources Mentioned:
Stanley T. Funches: LinkedIn
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