What's up! It's episode 57 of Payne Points of Wealth and the all-asset melt-up is upon us! Everything is going up right now. Oil prices are surging to all-time record highs every single day. Bitcoin, all-time record highs. Stocks, all-time record highs. What should you be doing right now? Is this a big bubble? Can it continue? We're gonna break down exactly what's going on in the market. We're also going to talk about your financial independence. Do you have a date when you want to be financially free or retired? We're going to show you exactly how to pick that date, how to build that plan, and get you on track for your financial independence plan.
You will want to hear this episode if you are interested in...A year, year and a half ago, we had a -$37 a barrel print on oil. Why? There was no demand! The economy was shut down globally because of the pandemic. Nobody needed oil. It was sitting out in tankers in the ocean with nowhere to go. Now it's $85 a barrel. Why? Because demand is strong. The economy's booming, not just here but globally. When the economy does well, oil usage goes up. When you have supply and demand the price goes up. Guess what goes up with oil? The stock market. You want oil to go up, not because you want to spend a lot of money at the gas pump, but because you want to see your portfolio go up. So let's go oil higher, higher, higher!
This week on the tipping point: When is it safe to live off of your portfolio?Let's talk about retirement. In this day and age, it's different. If you love what you do, you'll never work a day in your life as somebody once said. We think it's more important to think about financial independence and having a big pile of go-to-hell money, where you can decide to do what you want to do every day. A lot of times we talk about wanting to have X amount of money at a certain date. Whether it's a million dollars or 3 million, whatever that arbitrary number is.
It's more important to pick that date because for everybody that pile of money will be different. Maybe you have a pension, or social security coming in, what if you have an inheritance, so it really just depends on you specifically. So first you've got to decide l when is that gonna be? Is that five years from now, 10 years from now? If you're a millennial, maybe you want to take a break from working for a couple of years to travel and then go back to work. We have to solve for all of these problems, but you have to begin with the end in mind and that's picking that date before you think about the pile of cash.
This week’s hidden facts of financeWhen Robinhood last reported quarterly earnings, the trading platform said it had 22.5 million funded accounts. The vast majority of those are considered active. Up 130% from a year earlier, that's a lot of people getting into the stock market. A lot of people are investing in the stock market for the first time and like everyone who starts out as a newbie investor usually they pick some very speculative ideas and end up losing money. So Robinhood is probably pretty appropriately named, taking money from the poor and giving to the rich wall street executives who don't care about you. At some point, they'll learn and give us a call.
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4 Paynes in a Pod with Charles Payne, Ep #81
What You Need To Think Of At Each Stage Of Your Financial Journey, Ep #80
Do You Have An Emotionally Damaged Portfolio?, Ep #79
False beliefs that could be ruining your financial life, Ep #78
Finding Forgotten Assets Are Better Than Finding $$ In Your Pants!, Ep #77
We’re In An Economic Boom, No Matter What Strategists And Economic Gurus Tell You, Ep #76
Getting Your Mind Right When Setting Realistic Goals For Financial Independence, Ep #75
Annuities As Inflation Hedges?…NEVER!!!, Ep #74
Generating Income with Frankie Lagrotteria, Ep #73
Financial Planning Olympics, Ep #72
Wisdom from Ben Franklin, Ep #71
The Truth Will Set You Financially Free, Ep #70
What Do We Really Mean When We Say We Don’t Want to Retire?, Ep #69
Is Your Financial Future Headed Toward the Rocks, Ep #68
Simple, Underrated Philosophies You Can Use, Ep #67
How to Start 2022 RIGHT With Your Financial Plan, Ep #66
Why inflation won’t be sustained, Ep #65
Markets Rebound Hard and Wall Street’s Hidden Fees, Ep #64
The Worst Sell-Off Ever, What To Do Now?, Ep #63
High Earnings, Bond Rates Rising, & Inflation, Ep #62
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