Stock market volatility, job security concerns, high inflation, and tariffs dominate headlines, leaving us all uncertain. We break down key economic indicators, from GDP to consumer confidence to interest rates. More importantly, we share how this matters for your everyday life and financial future. We hope this episode creates a sense of calm amidst many trying to sensationalize the current environment and allows you to distinguish the noise from what matters. Let this remind you to stay calm, control what you can control, and maintain a long-term perspective on investing.
Andrew join this week’s podcast as we talk about:
– Analyzing job loss trends and practical resources for those affected
– Breaking down key economic indicators: GDP, inflation, interest rates, consumer confidence
– Decoding current market volatility and its impact on everyday life
– Our strategy for managing investment portfolios during market fluctuations
– The importance of long-term investing and avoiding emotional decision-making
– Focusing on controllable factors: spending, savings, and career planning
– The impact of trade wars and tariffs on consumer prices
– Assessing personal risk tolerance in uncertain economic times
– The psychological side of investing and managing financial anxiety
Show References:
- friends on FIRE podcast #022 – Live like you’ve lost your job
- friends on FIRE podcast #038 – 6 Steps to deal with a job loss or furlough
- Inside Out Money episode #036. From canceling Netflix to selling our homes – What we’d do in a recession
- Inside Out Money #084 – Trump 2.0 and its impact on your finances (recorded Nov 2024)
- Inside Out Money episode #063 – Number one early retirement metric: your savings rate
- Inside Out Money episode #055 – Our formula for how much to keep in your emergency fund
- M1 High-yield cash account – 12 months of 0.50% APR boost with this link (taking current interest rate to 4.50% APR)
- Wealthfront referral link – high-yield cash account – 3 months of 0.50% APR boost with this link (taking current interest rate to 4.50% APR)
- Inside Out Money episode #003 – How and why to invest in index funds
- friends on FIRE podcast #033 – Mike Explains the Economy