Latest / Financial Survival Network / Dollars and Sense: Shield Your Wallet from Inflation's Bite - Mindy McIntosh #6053

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Dollars and Sense: Shield Your Wallet from Inflation's Bite - Mindy McIntosh #6053 · Financial Survival Network

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  But we're also going to see a lot of folks as far as their financials
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  when they've looked at you know, CD, especially the short term that's been
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  so good lately, the six months, seven month CDs that have been definitely
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  outperforming the two and five year. These rate cuts can drop CD rates,
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  which just means, you know, more than ever, they can reach out
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  to us here or their financial professional to wonder how are other ways to hedge
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  inflation. And we're going to see just a little bit of consumer cracks here
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  in the inflationary pressure that we're seeing because you it's economy, you know,
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  it grew a little slower paced than expected here for first quarter. You're listening
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  to Carrie Let's's Financial Survival Network, where you get valuable information you just can't
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  find anywhere else to thrive in today's trying times. You need the Financial Survival
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  Network now more than ever. Go to Financial Survivalnetwork dot com and get your
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  free newsletter and gift. Financial Survival Network now more than ever, And welcome
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  you are watching and listening to the Financial Survival Network. I'm your host,
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  Kerry Lutz. Well, let's find out what's going on with the economy,
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  what it means for your your wealth or your retirement if that's in the cards
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  for you and our good friend Mindy back and us is back with us,
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  Mindy A. We got some numbers out, so tell us about the numbers
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  and what they mean and what you need to do about them. You bet,
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  thanks for having me, Carrie. We definitely do have some numbers back.
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  The DDP did grow at a one point six percent annual pace this first
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  quarter. Now I can tell you that did fall short a little bit of
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  the estimates, But I really think that this actually, in my opinion,
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  is a good thing because if we see this with some rate cuts, it
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  could drop some things that we're going to see, So, you know,
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  mortgage interest rates might start to fall and get more back on level playing field
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  we call it. But we're also going to see a lot of folks as
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  far as their financials when they looked at you know, CD, especially the
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  short term that's been so good lately, the six months seven month CDs that
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  have been definitely outperforming the two and five year These rate cuts can drop CD
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  rates, which just means, you know, more than ever, they can
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  reach out to us here or their financial professional to wonder, how are other
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  ways to hedge inflation. And we're going to see just a little bit of
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  consumer cracks here in the inflationary pressure that we're seeing because you it's economy.
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  You know, it grew a little slower paced than expected here for first quarter.
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  So this is a case of the bad news being good news. You
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  know, I think we're going to see pricing might be a little bit of
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  a problem. Economy slow a little bit, but the pullbacks, you know,
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  with what investors see, really we can rely on staying somewhat of a
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  course moving forward. So sometimes when we take a look at you know,
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  robust growth prospects remaining to likely scenario, all the growing performance a lot of
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  times to what I've seen lately is some of the unpredictability. But I looked
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  up some of the recent numbers and like business equipment spending, it actually still
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  rolls by a couple of percent. Residential fixed income investments grew over thirteen percent.
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  Intellectual property, especially actually carrying the realms of software went up over five
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  percent. So I think that we still need to be looking towards you know,
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  we talk about retirement. Made clear here all the time that if we're
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  looking at a positive focus and staying well diversified. I still think I can
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  give consumers a retirement confidence, especially when we see such a good first quarter
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  that we've had out of the S and B. Yeah, what about the
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  inflation numbers that you're purchasing power of your savings? Your dollar she continues to
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  be eroded, right, it sure does, yep. So we're seeing that
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  when we take a look at this, even compared to fourth quarter, the
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  declaration of the real GDP and the primary first quarters, it just means it's
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  respected of the declarations of what we're actually seeing putting pressures on consumers. The
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  spending, right, so we talk to tum's spending state and low government spending.
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  So our dollar just for sure is not that extending as far as what
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  it has beenen So we really need to see these movements, and sometimes they
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  can be offset a little bit by an acceleration even as like residential fixed investments.
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  But we really need to be careful of what we're seeing happening with the
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  dollar and what we're just really seeing with timeline. And I just don't see
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  that inflationary number changing anytime quite soon. So we just need to really,
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  you know, take a look, have a plan. I can't stress more
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  than ever. It's just to make sure consumers that are listening to carry watching,
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  is to make sure they have a plan, they're well diversified, and
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  they're actually realizing and notating what is actually happening here and how sustainable in what
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  long term this looks like quarter over quarter. So you know, the IMF
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  has sent a message to Congress, to the government that the current path the
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  country on is unsustainable. When are we gonna wake up and pull back from
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  the brink here? You know, that's the true question. I feel like
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  with this coming in at one point six, that actually to me is more
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  good news. We shouldn't see that come down some I would like to see
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  those mortgage interest rates and reduce them as CD rates as much as the folks
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  are all liking them. You know, we need to see some things to
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  come back to the level playing field. And I think this lower then projected.
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  You know, economy growth came alongside with this surprisingly high inflationary reading.
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  And really, if we take a look at the core our come you know,
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  our personal consumer expenditures. You know, we got to you know,
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  it exclosed the volatile food and energy categories, which those are still growing by
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  over three percent, So I think we just really need to see where things
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  are going to go. You know, we'll see some bond yields they rose.
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  So a big thing that we're seeing is with that ten year treasury at
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  a nearly seven basis points, reaching about four point seven for the first time
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  since early November twenty twenty three. I think we just need to take a
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  look that banks are going to hold rates a while and wait for inflation to
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  fall a little further. So continue to look ahead, don't make knee jerk
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  reactions. Talk to your you know, investor and your advisors, and make
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  sure that we're understanding what sectors to be in and we're to look further.
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  Okay, So what's your take on AI? Is it just the flavor of
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  the week or is it the next huge advancement that's going to affect the US
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  economy and the global economy much like the Internet did in early two thousands.
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  I think AI is here to stay, and I think we need to be
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  careful in what realms that we're actually utilizing AI. But you know, we've
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  seen it. We've seen all the way from you know, robot development of
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  what we've been seeing in some restaurants and serving things to how people are communicating.
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  We're in such a digital world even when we're taking a look at,
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  you know, some staples that we've actually seen of like Amazon, Cloud based,
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  the roadblocks of the world and such. But I really think we're going
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  to see AI continue to be in intrumental where we actually are as a country
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  globally, and so I do think that this is a space to look out
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  for and to have your hands in somewhat. Yeah, so is Nvidia can
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  it go up any higher? Or is it kind of through with it's run?
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  I think we're going to see I don't think we're going to see us
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  higher run of what we did, but I really think if consumers take a
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  look, you know, that's definitely where the buzz is at. I don't
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  think anything of what we should come out first quarter is going to affect that
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  much. But I don't think we're going to see another huge rise either.
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  And I think as long as we're looking at don't be too heavily in the
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  knee jerk reactions of oh my friends have it, or this is the new
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  hot item, Stay well diversified, stay the course, And I think we'll
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  see more things that come baxt quarter. All right, so what about the
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  prospects of AI. You know, I watched that. I can't remember the
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  name of it, but basically the guys said to the robot, hey,
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  I'm hungry, and the robot picked up an apple and threw it at him,
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  and you know that it was remarkable, and you know, then he
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  asked the robot how he thought he did or she I don't know. It
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  was probably pronouns really tricky when it comes to robots, you know, but
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  basically he said, yeah, I think I did. Okay, you know,
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  you ask you said you were hungry. I gave you the only food
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  that was on the table. And when you look at that and you say,
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  man, is just like everything's going to be done by the robots in
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  five to ten years. So you could just see it. Yeah, And
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  personally, I don't want to see that happen. I want to make sure
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  that, you know, it's really hard to take the flavor of personal approach
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  out of things. So, yes, there's some things that you know,
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  AI is great for. There's others that I think is a very fine line
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  about what we're asking for delivery opinions kind of just in my nature, even
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  the health of folks. Right, So, we weren't put on this earth
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  to be by ourselves. We're put on here to build communities around people.
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  So I think that we have to be very careful of what we're trying to
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  digitalized and systemize and make sure that we're finding that healthy, happy round medium
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  where we're actually utilizing as a great service work and as a tool. But
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  I have to do on Mendel boots for everything. Yeah, well, I
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  think the genie is out of the bottle or the toothpaste is out of the
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  tube. There's no stopping it now. And you know, like full self
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  driving, you know Tesla's it's basically a true autonomy. I think it's pretty
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  close, a lot closer than any of you out there might think it is.
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  It's going to have profound impacts here on society, on investing all of
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  these things. I think we're entering kind of a new paradigm here. I
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  knew too. I think picks that we're going to see, even with market
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  picks that we see you're right with how we're actually driving vehicles all the way
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  down to driver's license, where people are picking up food, how they're getting
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  it. You know what's going to happen to what we see different mom and
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  pop store, small shops or even restaurants. Are are people going to go
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  and dine in more so robotic and nature? Where are we actually going to
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  see things turn to? And you're right, I love your analogy, you
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  know, the genery out of the bottle? And now how do we how
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  do we curtain and kind of keep that even plow to try to make sure
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  that we are still people driven and consumer driven? All right, hey,
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  mindy, if we want to get in touch with you, we want to
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  follow you on the web and connect with you through the various outlets there.
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  How do we do that? Sure, they can go to Wealth Michigan dot
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  com. On there you're going to find any information, our podcast, our
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  radio show, educational series. So that's going to be the best way to
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  reach out to us here Wealth Michigan dot com to fight all things new about
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  Macintosh and associates. And we really like to make sure that we're focusing on
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  retirement made clear, So reach out plus eight seven seven two two two eight
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  eight four nine, and we'd love to make sure that we can continue to
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  focus on you. Okay, Hey, appreciate it. If you've got a
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  question for Mindy myself, shoot me an email Klatcarrielouds dot com and you'll find
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  a link to mindy site in the show notes to this interview on Financial Survival
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  Network dot com. While you're there, sign up for your free newsletter.
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  Mindy. Appreciate your stopping by. Thank you, We really appreciate it.
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  Appreciate being here, Thanks for listening to Carrie Lenz's Financial Survival Network, your
• 11:22
  solution to today's trying times. For the latest, go to Financial Survivalnetwork dot
• 11:28
  com. Financial Survival Network now more than ever,