The current economic environment has many people worried. Interest rates are up, the stock market is volatile, bitcoin has lost tremendous value, and inflation seems to keep growing. So on today’s episode, we want to sit down and discuss the economy and the future trends we should expect to see with two economic experts, Mike Jacobson and Marc Werkmeister. Mike is the CEO of NerbaskaLand Bank and the Senator for District 42 and Marc is a Certified Financial Planner with PFA.
Inflation is when too much money is chasing too few goods and services. Looking at where we were with supply chain issues and the influx of money into the economy with stimulus checks, inflation was bound to happen. To combat inflation, the Federal Reserve raises interest rates, promoting people to stop buying and start borrowing. We are seeing this impact the housing market already with higher-interest loans.
By a strict definition, we are not technically in a recession yet. However, we are experiencing some signs of an upcoming recession. Whether we will end up in a full-blown recession isn’t known yet. We’ll explore some scenarios and what you should be doing to protect your wallet.
Join us today as we get into these topics:
· What causes inflation and what can be done to fix it?
· Why stocks and bonds are both experiencing volatility.
· What we should be doing to protect our financial plans
· How the housing market is responding to the economy
0:37 – Sorry to keep you waiting!
1:14 – We love Nebraska Day
2:56 – Welcome to our guests
3:28 – What is the overlook on the economy?
9:44 – Getting back to ordinary
12:58 – Are we in a recession?
15:00 – How would you protect your 401(k)?
18:38 – Bond-ladder investing and CD letters
19:40 – What is your advice to a hopeful homebuyer?
21:44 – What are we looking at with home lending?
25:59 – Making compromises with homes
27:31 – Figuring out what your long-term and short-term goals are
29:35 – What are some of the positives?
32:59 – Trivia: Current Events!
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This episode is brought to you by NebraskaLand Bank. We are Member FDIC and an Equal Housing Lender.
Professional Financial Advisors is not affiliated with Nebraskaland Bank. Investments of PFA are not a deposit, not FDIC insured, not insured by any Federal Government Agency, not guaranteed by the Bank, and may go down in value.