Can You Pass Financial Independence Pop Quiz?, Ep #91
Posted
July 27, 2022
What’s up! It’s episode 91 of Payne Points of Wealth and we’re getting mixed emotions from the economy in the stock market as we’re in the midst of earning season. Surprise, surprise earnings are not looking as bad as Wall Street is wanting you to believe. We’re going to break it down and give you our view on what’s going on with earnings right now. What we see right now with the economy, the labor market, inflationary pressure, everything everyone’s talking about, we’re going to give you the Payne view.
On the Tipping Point, we have guest Aaron Dessen, a Certified Financial Planner™ at Payne Capital Management, and we’re going to give you a financial independence pop quiz! Can you answer these questions? Are you on your path to financial independence or do you need some help?
You will want to hear this episode if you are interested in…
Could the lows be behind us already? [2:32]
What the FED is doing is working [5:55]
What happened the last time we saw high bond allocations [8:21]
The Tipping Point [12:43]
Do you know how much it costs to fund your lifestyle? [13:50]
What does your net worth need to be before you can live off of your portfolio? [16:12]
Hidden Facts of Finance [21:22]
Are the lows already behind us?
Jeremy Siegel is a great economist and a professor of finance at Wharton at the University of Pennsylvania. He’s a big fan of Jerome Powell and the federal reserve and has been rooting them on to raise interest rates. He believes that they will hike 75 bits next week. Jeremy also thinks that they’re going to start paying attention to the slowdown in the economy and the lows could absolutely be behind us already. Now he doesn’t KNOW, but again, he’s a smart man and he knows that J Powell is looking at all the indicators. Who knows, we might have seen peak inflation.
It was indicative last week when we had really good earnings on a Tuesday and markets went up over 700 points in one day! It’s just a reminder the market action can change on a dime. Your bigger risk here is that we get good news and suddenly you get a huge melt-up in the market. This is why you don’t market time because when that happens if you’re not already invested, you miss the boat.
This week on the tipping point: Can you answer these questions?
The first