Recently during a coaching session, someone asked me about bank ratings. The couple were surprised when I advised that each of the banks in the news were rated investment grade before being rescued by the FDIC. Even more concerning, First Republic Bank went directly from A- to junk with less than a 24-hour warning. Most U.S. banks are rated even lower than First Republic -- at BBB. There are banks in other developed countries that are rated higher than U.S. banks.
May, June and July are going to be challenging months. We'll need to raise the Debt Ceiling in May, the bank stress tests will be released by the end of June, and on July 27th, the 2nd quarter GDP will be released. It is predicted to be negative.
So, where should you stash your cash, and how do you protect your wealth from a recession? What are the 7 ways that you can best protect yourself in the challenging economic times that we find ourselves in?
We discuss all of that in this very important videoconference.
Join me at our Financial Empowerment Retreat April 22-24, 2023, where you will learn firsthand how to properly protect and diversify your wealth, your investments and your retirement plan, and to save thousands annually with smarter big-ticket choices. Be sure to share this podcast with your friends.
