We are in the midst of a sea change in our financial lives. Here are the headlines:
- Inflation is surging for the first time in years and has reached the highest level in forty years.
- The Federal Reserve is embarking on the fastest and steepest tightening cycle in decades.
- Value stocks are outperforming growth stocks after lagging them by record amounts for nearly a decade and a half.
Is it time to make some changes to our financial plans?
Our guest this week is an award-winning personal finance journalist who has been a WEALTHTRACK regular since our launch in 2005.
He is Jonathan Clements, the founder, and editor of HumbleDollar, a free weekly online newsletter devoted to telling you “everything you need to know about money.” It is worth visiting. Clements was the personal finance columnist at The Wall Street Journal for 20 years and is the author of several personal finance books, including From Here to Financial Happiness and How To Think About Money.
Clements will give us his perspective on the much-changed financial climate we find ourselves in and offer portfolio and financial planning adjustments for rising interest rates and inflation.WEALTHTRACK Episode #1917 broadcast on October 21, 2022
Listen to the audio-only version here:
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- Founder & Editor,
MAKE A RECESSION RESET
- Odds very high that the economy’s growth will slow for several quarters
- The Federal Reserve is determined to squelch inflation
- Stocks and bond prices will be under pressure short term
- Have a comfortable position in cash and liquid short-term securities as a cushion
- Own some stocks with a history of increasing dividends to insure some income
- Personally cut expenses and embrace frugality
GLOBAL MARKET PARTICIPATION
Buy: Vanguard Total World Stock Market Index Fund (VTMAX)
FROM THE ARCHIVE
Johnathan Clements from the WEALTHTRACK Archives:
REAL FINANCIAL SUCCESS
Helping everyday people achieve the financial success that meets their specific needs is why award-winning personal finance journalist Jonathan Clements founded the free newsletter HumbleDollar. He gives us a preview of his soon-to-be-published book, My Money Journey, which chronicles the stories of 30 people who have achieved financial security on their own terms.