Episode 18 - The History of Inflation

In episode 18 of Building Wealthy Habits, Randy Barkley, Laura Lee, and Jeremiah Lee discuss the complexities of inflation and its effects on personal finances and the economy. They explore how inflation has evolved over time, its historical context, and its current impact on spending habits and investment decisions. They emphasize the importance of understanding inflation's impact on people's spending habits and the economy's overall stability to make informed decisions. The team also discusses the economic crisis of the 1970s, the current state of the housing market and inflation, and the crucial aspect of preparing for inflation's impact on retirement.  Reach out at [email protected] Listen to the Flying Lizards' "Money": https://open.spotify.com/track/5rgY6vN5CaEL3boucCi3CT?si=705a36b6cfe042a5 This week on Building Wealthy Habits:   0:00:00 - Discussion of the history of financial planning, including the creation of the SEC after the Great Depression, the introduction of Social Security, and the transition from pensions to 401ks. 0:13:20 - Discussion of different financial designations like CFP, CPA, JD and their roles. CFP is highlighted as the "quarterback" for coordinating different aspects. 0:15:05 - Fiduciary duty is discussed and its importance for prioritizing clients' best interests. Signs that an advisor is doing a good job are covered. 0:17:58 - Challenges of understanding clients and structuring financial independence. Predictions that face-to-face conversations will have renewed value. 0:20:36 - Discussion of where the industry is headed with technology. Complex client needs are highlighted as an opportunity area. Importance of money in everyone's lives is discussed.   Connect with Jeremiah: LinkedIn: https://www.linkedin.com/in/jeremiahjlee/ Email: [email protected]   Connect with Laura: LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/ Email: [email protected]   Connect with Randy: LinkedIn: https://www.linkedin.com/in/rkbarkley/ Email: [email protected]