In this episode, The Annuity Man and Terry Savage discuss:
- Preparing for recession
- The wildcard in economy
- The two most interest things in the market
- Living off of the interest
Key Takeaways:
- People are not prepared for the kind of recession we might be facing. The Feds will not let the government buy us out of this recession, even though it's a political year because of the mounting national debt.
- The wildcard in all of this is in employment. We haven't seen unemployment go up yet, but there is a greater amount of people either quitting or soft-quitting, which is when people don't quit but aren't working that hard.
- The two most interesting things about the market are Bitcoin and gold. Blockchain, the technology behind cryptocurrencies, is going to revolutionize our lives but it's not going to be a refuge from the U.S. dollar.
- The goal is for you to never have to touch the principal and just live off of the interest. That's the dream. Establish your income floor and see if you can buy products that will create interest.
"The problem is it's not just financial inflation. It's emotional. It's in the DNA; it's in the cells. And you don't have to be a Ph.D. economist; you can be an ordinary person to understand the impact. That inflation mentality is what has to get broken." — Terry Savage
Connect with Terry Savage:
Website: https://www.terrysavage.com/
YouTube: https://www.youtube.com/user/TerryTalksMoney
LinkedIn: https://www.linkedin.com/in/thesavagetruth/
Twitter: https://twitter.com/Terrytalksmoney
Facebook: https://www.facebook.com/The-Savage-Truth-190870517609983/
Connect with The Annuity Man:
Website: http://theannuityman.com/
Email: Stan@TheAnnuityMan.com
Book: Owner's Manuals: https://www.stantheannuityman.com/how-do-annuities-work
YouTube: https://www.youtube.com/channel/UCCXKKxvVslbeGAlEc5sra2g
Get a Quote Today: https://www.stantheannuityman.com/annuity-calculator!
