Sanctuaries of the Downside - Kyle O’Dell #5669

Summary: Kyle O’Dell has a long history in the financial sector, and comes on the show to give his take on the latest GDP numbers. Although the 2.9% GDP headline looks promising, Kyle suggests that there is a lot more to it. Other variables such as increasing credit card balances, lower income levels, and lower savings indicate that the reality is less positive than we may be led to think. Kyle outlines some investing opportunities that provide safety within the downside, and we discuss the future implications of what is happening right now. Tune in for more insight. Highlights: -The employment numbers are looking weak and GDP is looking better -The reality isn’t quite as encouraging as the 2.9% GDP headline; Kyle suggests that there is a lot more to it -Credit card balances are going up, income is down, and savings are down. We’re also seeing sluggish business investments and a slowing housing market -The reality is that the 2.9% is not as positive as it looks on the surface -The reasons to stay away from the market or be cautious change every year -Over time, a well diversified portfolio plays out, but you need to be careful about where you’re investing in -Fixed index annuity has no downside at all, and this is a great place to draw from when the markets are down -You have to have a plan and implement it before the market takes a step back -As interest rates go up, the value of bonds decreases -Productivity is down and supply and demand are decreasing -Rising interest rates hurt business and the consumer -We want to see strong GDP with lower inflation -Banks sitting on money is going to hurt all sides of the economy -The United States being more energy dependent is the best option -Consumer sentiment reached its lowest point in June 2022 -We need to stop using a blunt object to solve all problems Useful Links: Financial Survival Network Edgerock Wealth