It's episode 69 of Payne Points of Wealth and markets are literally falling apart right now! Are we going into a bear market? Is this the end? There are a lot of economists calling for a recession.

We went through a period in the last couple of years where the hottest stocks in the market were something called pre-revenue companies. In other words, they weren't making any money, but they got all the money from newbie investors, investing in innovation and disruption. Well, we are seeing disruptive technology getting destroyed, whether it's Bitcoin, Peloton, or Tesla it’s getting destroyed. The lesson learned… invest in companies that make money and better yet pay dividends.

Are you afraid of retirement? Do you think you can retire? Are you afraid that you can't be financially independent? What do you do with your money now? Should you be sitting in cash? We're going to address all of those issues in this episode! Check it out!

You will want to hear this episode if you are interested in...

The tale of two markets [2:05]
Tightening and loosening conditions in overseas markets [6:53]
The Tipping Point [11:07]
Being bored in retirement [13:47]
Lack of confidence in your ability to retire [17:43]
Hidden Facts of Finance [20:49]

Monday morning quarterbacks of the market

It sounds so sexy, right? The market's selling off, you're getting to cash, you think you're being proactive and protecting yourself. Markets change on a dime. Markets can rebound very quickly too and if you're sitting in cash, you missed the boat. That's why timing the market, in general, is treacherous! It's the worst thing you can do.

Then there are these pundits on Wall Street, these economists, they were so rosy with their outlook coming into the beginning of the year. All of a sudden the market sells off over a two-week period and we're hearing we're going to a recession. We've been talking about how tech stocks make no money and they're gonna go down. They're always playing money morning quarterback. They don't say this stuff before it happens. They always tell you after it happens, which has no value.

This week on the tipping point: Why do we say we don't want to retire when (maybe) we actually do?

When doing financial planning for clients we have found that when we hear “I don’t want to retire” it doesn’t always mean clients don’t actually want to retire. Sometimes it means you love your job and don’t want to go from 100 to ZERO. Other times it means you don’t know if you can afford to retire. The fear of being without a paycheck is very real for many people. There are also a lot of things that can happen that can take the choice away. Our solution is to not talk about the “wanting” to retire but setting your financial independence date. That point when you can decide to do whatever you want and your paycheck doesn’t get a vote!

The stress and anxiety of worrying about money leads to other health issues so knowing that you're financially independent, knowing that you don't need to work is also a huge benefit in the long run and will promote even more longevity.

This week’s hidden facts of finance

China racked up a record $676 billion trade surplus for 2021, a 60% jump from the pre-pandemic year of 2019.
The average number of books read per year is down to 12.6, a drop from 15.2 in 2016.
44 years ago the Saturday Night Fever soundtrack started a 24 week run at #1 then went on to sell over 30 million copies worldwide, making it the best-selling soundtrack of all time.
Wage inflation is real! CEO of Goldman Sachs says he needed to boost pay by 4.4 billion or 33% to remain competitive.

Resources & People Mentioned

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