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How current events
can affect your personal
financial situation

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Posted By: grace127, 1/17/2020 7:30:15 AM

Believe it or not, the moment that people learn I run a financial planning company the discussion usually veers to how current events will affect their personal financial situation (I’m a lot of fun at parties). Take, for instance, the recent tensions in the Middle East. After President Trump launched an attack that killed Iranian General Qassem Soleimani, press coverage and financial markets panicked, thinking the United States and Iran stood on the brink of World War III. But after Iran launched a comparatively minor assault in retaliation, and the president responded with only economic sanctions, markets rose, sensing that both sides had stepped back from the brink.

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Reply 1 - Posted by: Strike3 1/17/2020 7:41:25 AM (No. 290759)
It depends on which day it is. The current impeachment gala earned me a few grand this week.
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Reply 2 - Posted by: DVC 1/17/2020 1:01:40 PM (No. 291036)
The stock market is the best place to have your money. Over the long term, wisely invested and NOT pulled out when the market has one of it's periodic tantrums, it will earn 6-8% return. You must be able to withstand periodic variations, though. My wife and I started saving very seriously when we were in our 30s, which I consider somewhat late in life. Our current investment portfolio is so much greater than I had hoped for that I am really pleasantly surprised now to have absolutely no financial worries. We are now able to fund the educations of our grand nieces and grand nephews, and it won't affect our lifestyle at all. Young people need to find an honest, skillful financial advisor and live at least 20% below their means. This means saving 20% of their take home pay in a year. If yu earn $90K, then put $18K in your investments. And one key piece of advice from my long term financial advisor - Pay yourself first - put your investment money in BEFORE you consider whether you can afford that new car, new house or vacation. Do those things with your EXTRA money, not your retirement money. And when the markets are down - BUY. When clothes or other things are "on sale", you buy, it's obvious. When stocks are "on sale" (the market is down), you should also buy, why isn't that obvious? If you can't afford to buy, just hold on, do NOT sell. The simple minded measure of "the stock market", the Dow Jones Average, was at about 18,000 for a few months before the election in 2016. It is now well over 29,000, looks like 30,000 will be hit pretty soon. At 29,000 people's investments, if only in brain-dead Dow Index funds, would be up over 60% in just over three years. If you had $250K in your investments before Trump, you should have over $400K, and climbing by now. A good investment advisor will get you more return than a Dow Index fund (he darn well better!), probably coming very close to doubling your money over that same time period.
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How current events
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2 replies
Posted by grace127 1/17/2020 7:30:15 AM Post Reply
Believe it or not, the moment that people learn I run a financial planning company the discussion usually veers to how current events will affect their personal financial situation (I’m a lot of fun at parties). Take, for instance, the recent tensions in the Middle East. After President Trump launched an attack that killed Iranian General Qassem Soleimani, press coverage and financial markets panicked, thinking the United States and Iran stood on the brink of World War III. But after Iran launched a comparatively minor assault in retaliation, and the president responded with only economic sanctions, markets rose, sensing that both sides had stepped back from the brink.
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Posted by grace127 11/23/2019 8:50:43 AM Post Reply
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Posted by grace127 11/16/2019 10:11:29 AM Post Reply
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Posted by grace127 10/12/2019 5:40:44 PM Post Reply
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Posted by grace127 9/9/2019 6:27:41 AM Post Reply
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Posted by grace127 8/31/2019 7:44:19 AM Post Reply
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Posted by grace127 7/30/2019 6:54:32 AM Post Reply
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