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HerMoney with Jean Chatzky

Ep 352: Everything You Need to Know About the 2023 Economy

HerMoney with Jean Chatzky

Jean Chatzky Her Money

Investing, Business

4.71.5K Ratings

🗓️ 4 January 2023

⏱️ 47 minutes

🧾️ Download transcript

Summary

2022 was an economic rollercoaster. With stocks down, interest rates up, and inflation still hitting our wallets, where do we go from here? Award-winning economist Diane Swonk joins us to share her top financial takeaways from 2022 and her predictions for the new year. In Mailbag, we hear from a listener who contributes to her boyfriend’s mortgage, but doesn’t share official ownership of his house. In Thrive, how to get your finances organized in the new year. HerMoney wants to hear from you! Take 8 minutes to fill out our Podcast Listener Survey, and get the chance to score gift cards and HerMoney merch. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You're listening to an AirWave Media Podcast.

0:04.0

One of the things about financial markets that's always been the most difficult is the

0:11.7

old adage by low and sell high is really never followed, because human behavior is, you

0:18.2

know, we love the comfort of a crowd, but as we come off of it, nobody wants to catch

0:23.2

a falling knife.

0:24.2

Nobody wants to invest in a depreciating asset, even if that might be, you know, the

0:28.0

right time to put your money in, because nobody wants to call the bottom.

0:32.4

You probably have a solid plan for retirement, but maybe you're wondering, did I miss

0:37.2

something?

0:38.2

Is there something more that I can do right now to secure my financial future?

0:42.1

It is time to find out.

0:44.5

Visit planefe.com slash her money to schedule a free appointment with an advisor today.

0:50.1

Hey everyone, I'm Gene Chatsky.

0:52.2

Thank you so much for joining me today for our very first-for-money episode of 2023.

0:58.5

We're so happy to have you with us for another year, especially coming out of 2022 when

1:04.7

I got to say so many of us had some big money questions because it was a very bumpy ride.

1:12.6

On average last year, we saw stocks down by about 22% bonds down by 15%.

1:19.7

It was actually the worst year for bonds since 1926.

1:23.9

Crypto took the biggest beating with a decline of around 50%, but wait, there's more.

1:30.2

Inflation was also a killer with prices for everything up by as much as 9.1%, that was

1:37.8

a 40-year high.

1:39.7

In an effort to tamp down runaway prices, the Federal Reserve raised interest rates seven

...

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