Living Beyond Your Means Now? You’ll Live Beneath Your Means In the Future - 196

Your Money, Your Wealth

Realestate, Income, Investing, Personalfinance, 401k, Rothconversion, Retirement, Education, Taxes, Socialsecurity, Personalfinances, Finance, Retirementplanning, Investments, Stocks, Business, Roth, Fiduciary, Ira

2.3 • 681 Ratings

🗓️ 20 November 2018

⏱️ 51 minutes

🔗️ Recording | iTunes | RSS

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Summary

JP Morgan Chief Global Strategist Dr. David Kelly discusses the mid-term elections, market volatility, interest rates, tariffs and trade wars, Brexit, his 2019 economic predictions and what all of that means for you and me. How should you be invested now? Dr. Kelly also gives his opinions on value versus growth stocks, international stocks versus US stocks, emerging markets like China, and other asset classes like bonds and commodities. Plus, Joe and Big Al have money-saving year-end tax strategies and answers to your money questions: should you sell stock to pay back taxes, and should you take investing advice from one of the big name investment companies? The answer might surprise you. Transcript and show notes: http://bit.ly/YMYW196

Transcript

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0:00.0	people in their 50s and 60s, should they be taking out another credit card?
0:03.0	Should they be borrowing more money at that point?
0:05.0	Well, no, because they're going to need to live off that money in retirement.
0:08.0	And 10 years out, the national debt is going to be about 100% of GDP,
0:12.0	and two-thirds of that debt will be owed to people overseas.
0:15.0	And so at that point, we will be paying taxes to fund the retirement of the Germans and the Japanese
0:20.0	rather than fund our own.
0:21.6	So if we live beyond our means today, we would be forced to live beneath our means in the future.
0:25.2	I don't think that's a very responsible thing to do.
0:27.0	Happy Thanksgiving week.
0:28.7	I'm thankful that today on Your Money, Your Wealth, J.P. Morgan's chief global strategist,
0:33.2	the very intelligent and engaging Dr. David Kelly joins Big Al Clopine and Pure Financial
0:38.3	Advisors, Director of Research, Brian Perry to discuss market volatility, the midterm elections,
0:43.9	interest rates, tariffs and trade wars, Brexit, his 2019 economic predictions, and what all
0:49.5	of that means for you and me.
0:51.2	How should you be invested now?
0:52.9	Dr. Kelly also gives his opinions on value
0:55.2	versus growth stocks, international stocks versus U.S. stocks, emerging markets like China, and other
1:00.4	asset classes like bonds and commodities. Joe and Big Al have some money saving year and tax
1:04.9	strategies and as always answers to your money questions. Should you sell stock to pay back taxes?
1:10.4	And should you take investing advice
1:12.0	from one of the big name investment companies? The answer might surprise you. It surprised me.
	...

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