What's up! It's episode 88 of Payne Points of Wealth, and we’ve finished the year's first half. It's been the worst start of a year for the S&P 500 since 1970 as markets are down nearly 20%. In the meantime, inflation remains high. The Fed is going to continue to tighten its monetary policy. What does this all mean for the second half of the year? Well, the answer may surprise you and we're going to break it down for you today. On the Tipping Point today, since we're just passing the 4th of July weekend, we're going to talk about financial independence. What do you need to be independent of to be financially independent? We're going to talk about how to give you your path to financial freedom the right way.
You will want to hear this episode if you are interested in...The financial media grabs onto every negative headline. They take everything that's bad and exacerbated by making it sound even worse. China, for example, is coming out of its COVID shutdown instead of focusing on the fact that it's going to help the supply chain disruptions which will help the global economy they look for ways to scare people. Saying things like that demand will push oil to $200 a barrel.
They take every bit of news and they spin it negatively and of course, when your portfolio's down, your statement's down, you tend to start to view those headlines with a little more attention than you normally would. It forces you to think negatively and that's where you must be careful. You have to remember the values are better now than they were in the last six months. You have bond yields that are attractive. There's a lot of opportunity being created but the news media wants you to think that it will never get better.
This week on the tipping point: What do you want to be free FROM?We just celebrated the 4th of July and in the spirit of the independence weekend, let's talk about financial freedom and what we want to be free FROM to indeed be financially independent.
One of the biggest things we want to be independent of is the government. You want to maximize your Social Security from them but you want to pay the least amount of tax possible. It blows our minds at how many tax inefficient portfolios we review almost daily. Within the confines of the law, there are so many little tweaks you can make to your portfolio. It's always little tweaks and not big sweeping changes that have a dramatic impact on your portfolio.
Independence from family is another thing we want to celebrate on the 4th of July. Not that you don't want your kids around, but you don't want to be sleeping on your kid's couch in your golden years. So you want to be certain that you have a plan in place that accounts not just for the income you need, but for the inflation that we're seeing in this current economy.
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Does the new bull market have bad breadth?
Has AI Replaced Wall Street’s Common Sense?
The perfect marriage of Risk Taking & Caution with our guest Carrie Kerpen
Who would have guessed the French stock market was going to be number one this year?
Is Inflation Finally Starting to Cool?
The Market Goes Up 📈 with Ed Yardeni
Entrepreneurial Skill Does Not Equal Investment Skill
Did the Fed just give banks carte blanche to mismanage your money?
Is the SVB collapse the beginning of something bigger?
Trust, but diversify.
Last year’s decline was really about wringing out excess speculation.
Is the Bond Market Playing Chicken With The Fed?
Should investors be following the George Costanza strategy?
Don’t fight the Fed? Or, don’t trust the Fed.
2022 was a stinker, but 2023 might be a winner. Ep #108
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Don’t Invest In The Market You Want, Invest In The Market You Have, Ep #106
The Market Is Smarter Than Everybody!, Ep #105
If You Want To Be Wealthy You’ve Got To Be Patient, Ep #103
Investing Is Not A Competitive Sport!, Ep #102
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