What's up! It's episode 89 of Payne Points of Wealth. Recession, no recession? I know you're tired of talking about it. We’re tired of talking about it. The media can't stop talking about it. Well, we're going to give you our views today. The employment numbers were hot last week, red hot, we've got over 11 million jobs available in this country and only 5 million people looking. We're suspicious about this recession and we'll talk about why in this episode. On the Tipping Point, we're going to talk about the hard truths of financial independence that you're going to have to grapple with, that you will have to deal with if you want to be financially free. Check it out!
You will want to hear this episode if you are interested in...The problem with the media is that you get this barrage of negative news and it discounts the fact that there are a lot of positives out there. Look at earnings, we've got earning seasons upon us, and for all intent and purposes, it's probably going to be pretty good. You're going to have some revisions downward for some companies, but for the most part, the projections looking out for the rest of the year should be pretty solid.
We've got earnings growth, loan employment, and Americans sitting on their highest net worth ever, meanwhile, all we can hear about is how we're having this slowdown, how we're about to fall off a cliff. It just doesn't jive, with what it actually happening right now in the economy. And I think many people will regret it later, not taking advantage of the uncertainty right now. This uncertainty is your best friend as an investor and when you look back, these are always your best opportunities.
This week on the tipping point: No way around uncertaintyWhen we're helping people achieve their path to financial independence, there's no way to get around uncertainty. We wish we could make it so easy and all the variables could just be taken out of the equation but part of financial independence and part of financial freedom is you have to become somewhat comfortable with the fact that things are always a little uncertain. That's why it's so critical to have a process-driven strategy when investing your money versus an event-driven strategy. The market is counterintuitive, if you depend on what the Federal Reserve is going to do next the market has already anticipated that. You're going to have a hard time making investment decisions based on reacting all the time to what's going on. If you're process driven, it gives you the ability to be unemotional and to be a little more pragmatic when it comes to strategy.
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