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Episodes by Topic: The Economy
Economic Review, October 2022
Mike shares a recent podcast from Ronald Blue Trust where Nick Stonestreet and Brian McClard discuss the current economic landscape, why the market is struggling, how international events are affecting investors, what may lie ahead, and how this may affect you. He then shares a few thoughts about the interview.
Listen to the EpisodeThe Latest Economic Review
In this episode, Mike looks at the latest economic review from Ronald Blue Trust. He also discusses several other points:
- Can you solve your financial problems by winning the lottery?
- Market fluctuations aren’t a punishment for being an investor, they are the admission fees.
- Wealth is financial assets that haven’t been converted into the assets you see. Living large doesn’t mean you are wealthy.
- True Wealth comes from wanting what we have – be content!
- I have more cash than I need for retirement. Where should I put it?
- Are we in or headed for a recession now?
- What type of investments are doing the best?
Trucking and Elvis Gospel Records
Tim Guin of USA Truck joins Mike again to answer more listener questions and shares some of his story.
- How do trucking companies try to mitigate risk of high dollar law suits?
- What equipment is on semi trucks to help prevent accidents?
- How has the chip shortage affected the trucking industry?
- What is the drug testing clearinghouse?
- How has the labor shortage affected trucking?
Supply Chain Shortage
What is the supply chain shortage all about? Tim Guin, CCO and Executive Vice President of USA Truck, joins Mike to discuss the ins and outs of the trucking and shipping industry.
- We see so many trucks on the road, but hear about a driver shortage. What explains this?
- What is the Amazon effect?
- California seems to be quite clogged up with ships. What is going on there? What led to that?
- Will there be a convoy in the USA like there is in Canada?
- What drives some of the changes and challenges we see in the trucking and shipping industry?
Short Clip: Discussing the Amazon Effect
Dealing with Inflation
Before diving in to inflation, Mike offers some advice on shopping for a financial advisor: questions to ask and resources to use to check the portfolio they are showing you
Mike then answers questions regarding inflation, such as:
- How has inflation affected things like buying a car?
- How does inflation affect investments? Your lifestyle?
- Typically, people only look at the risk of volatility when considering a stock, but they forget that is a temporary risk. Another, more important consideration is the loss of purchasing power. How does inflation affect this?
- What is the importance of rebalancing your portfolio?
He also discusses ways to deal with inflation:
- Reduce and pay off debt.
- Give appreciated assets instead of cash.
- Stay in stocks, but keep diversified as well.
To read the latest Economic Review mentioned in this program, click here.
Listen to the EpisodeCurrent Events and The Market
Do you think more money will solve all your problems? Mike looks at an example from the life of Bill Gross, debunking this myth.
What is going on with inflation and all the spending the government is doing?
Was the recent plunge in the market just an extreme overreaction to the Delta variant?
Mike looks at a recent article that analyzes the current state of the economy, considering:
- Crude Oil Prices
- Lumber Prices
- Real Estate Market
- Unemployment
A listener asked a question about considering a Roth Conversion. Mike explained some of the tax considerations a person would want to think about prior to making that conversion.
He also looks at a two-part blog by Gary Alexander entitled Seven Life Lessons for Building Wealth.
Many of these items have been covered on past episodes of this show as well!
- Seek Lifelong Education
- Be a Contrarian Investor
- Invest in Yourself
- Learn from History to Be an Optimist
- Build Winning Partnerships
- Don’t Try to Time the Market
Economic Recovery
Is the economy recovering from the effects of the COVID pandemic? Mark Elam, Senior Investment Strategist at Ronald Blue Trust, joins Mike to look at this issue from a variety of viewpoints. They answer questions such as:
- Has the economy started recovering already?
- How robust could the recovery be?
- Is inflation staying and increasing or will it be transitory?
- How will new legislation affect the economy?
- What is the velocity of money and why is it important?
- How can I protect myself against inflation?
Are We In a Bubble?
Mike reviews the most recent Economic Review and Outlook from Ronald Blue Trust. He discusses various market bubbles throughout history and whether or not the market is currently in a bubble environment. He also shares some thoughts on the life and schemes of Bernie Madoff who passed away earlier this week.
Listen to the EpisodeGovernment and the Economy
Mark Elam, Senior Investment Strategist at Ronald Blue Trust, joins Mike to discuss how projected policies of the new administration may affect our economy.
Questions answered include:
- How does the makeup of congress affect the economy?
- Does all of this stimulus money drive inflation up?
- It seems the US Dollar is getting weaker in the global economy, is that a cause for concern?
- What about investing in things like gold?
- Is there a bubble in the stock market? How does diversification help stabilize a portfolio in a stock bubble?
Listener Questions: Answered
In this episode, Mike answers a variety of listener questions:
- What about helping the homeless veterans or other people out begging on the roadside?
- My mutual fund has some Puerto Rican funds in it. Should I be concerned? Should I trade out of that fund?
- Should I look at transferring some of my employee stock ownership plan (ESOP) into an IRA?
- How does using a Qualified Charitable Distribution (QCD) affect my Adjusted Gross Income (AGI)?
- What are some of the considerations for the Required Minimum Distribution (RMD)?
- What about using a Donor Advised Fund?
- I am just generally concerned about the current state of the stock market, should I sell everything and move to cash only?
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