Kerry Lutz and Mindy McIntosh engaged in a thorough analysis of recent GDP figures, expressing skepticism about their accuracy and relevance to the actual economic landscape, particularly regarding personal consumption and job creation. They discussed the potential distortion of economic realities due to the upcoming election and the growing demand for tangible assets, emphasizing the importance of making investment decisions based on long-term financial planning rather than emotional or politically driven factors. Mindy highlighted the significance of guiding clients through media bias while addressing emerging market trends, particularly in technology, AI, and clean energy sectors, alongside stable industries like healthcare.
The conversation also touched on retirement planning, with Mindy voicing concerns about legislative risks affecting future generations and Kerry advocating for an active, fulfilling approach to retirement. They concluded by discussing the importance of diversification and how to connect with Mindy's firm for further insights.
Find Mindy here: wealthmichigan.com
Find Kerry here: FSN and here: Inflation.Cafe
you know I don't feel like we're really seeing from consumer economy. I don't feel like we've seen the rebound that they're saying. Spending I don't see is up still we're still seeing personal consumption being kind of in a troublesome area and you know I really think that we need to look at where are we seeing these jobs and I'm not exactly sure where we've seen the creation of that or not sure your viewpoint on that carry. You're listening to Carrie Lutz's financial survival network where you get valuable information you just can't find anywhere else. To thrive in today's trying times you need the financial survival network now more than ever. Go to financialsurvivalnetwork.com and get your free newsletter and gift financial survival network now more than ever. And welcome you are listening to and watching the financial survival network. I'm your host Carrie Lutz. Well we got some GDP numbers out for September and Mindy McIntosh is with us now to help review and make sense of these numbers. It sounds like things are really going great. I hope they're going as good for you Mindy as the GDP number would indicate. Well it's sure making it look like these numbers are healthy when we take a look at 3% but in you know from the Bureau had released that that's our final update that we've had currently and the rising annually 3% pace kind of shaking up from a shaky 1.4% growth in in quarter one. I don't feel like we're really seeing from consumer economy. I don't feel like we've seen the rebound that they're saying. Spending I don't see is up still we're still seeing personal consumption being kind of in a troublesome area. And you know I really think that we need to look at where are we seeing these jobs and I'm not exactly sure where we've seen the creation of that or not sure your viewpoint on that Carrie. Yeah that's a good question you know this would be this type of growth number you know well they redefined what a recession was right because we used to define it as two consecutive quarters of negative GDP growth. Then we got a number that they miscounted the jobs there were actually 818,000 phantom jobs and now you know this I mean do they have any credibility left here I mean the markets going up it seems like happy days are here again I'd like to start playing that song again but it just all seems to be smoke and mirrors. Well that's why I always say you know it's a big question right now where our consumers a lot of the folks that we're dealing with they're wondering is inflation and such really declining are things becoming more and even keeled what's happening in the job market and I really say you know maybe not and you just kind of brought it up a little bit when we remove energy prices inflation is still above 3% if we take out food energy and even housing it's about four and a half so how are we given the dollar direction and a redirection I mean yeah you're right stops are doing what they should be doing bonds are still programs we're using a lot of bond alternatives for our inclined folks to make sure that we're still hedging some changes but you know unemployment rates we shouldn't see them decrease with that fed cut but because I think that the feds did make that half our basis point cut as well was because we want to make sure we don't get more of a recession territory but our perspective really is you know a lot about so taking a look at overall picture of what we're asking our our clients with interest rates and unemployment and so historically and no economic trends from past presidential cycles even in elections it's you know obviously impossible to predict our exact economic implications but I am so concerned with our with the people and the consumers that we're seeing in our office day in and day out what's going to happen with post-election cycles and really what our theory is behind that so we really have to hold in on the fundamentals and make sure we're not doing too much of a political basis is here but we want to make sure that we're being relevant in in the portfolios and the things that we're seeing folks do on a day-to-day basis right yeah so you know and then you look and you see the dollar is declining you see gold prices sitting at our New York all-time highs 20 go into 2700 imminently so it would appear silver is at $32 the ounce and you know you got to wonder are we missing something even copper which had been kind of moribund but it still was trading in the four dollar range copper is at four and a half bucks now heading back up to five so where does all this leave us here with a feeling like we're not really seeing the whole picture from these government numbers right even oil prices starting to head up now again and is this just the election field distortion of reality that's taking place or is there something deeper going on here mandy well i think sometimes we have to look out for avoiding emotional and or political motivated investment decisions right now but what we're even seeing from our clients is that there's been market volatility and we're seeing folks more fleeing to what they call the tandibles or they want more outside diversification so we're seeing that happen so i think that's why we're seeing the gold and the silver uh i think that we're seeing it in higher usage so there's more demand on that currently as people are more nervous and uneasy about the market we're also seeing on the flip side and more folks are heavier in cash right now too and i i think that you know that's they're just unsure of what's going to happen with political you know views what they've even seen we'll all watch the debate um so that's over the long term it's really our job here um in our firm is we're trying to help folks prepare and establish for a nice retirement and so we want to make sure they're not too heavy in cash um we do want to have some of those outside tandibles and diversification but really guiding through you know guiding our focus as much as possible through the political noise which some of it i think you're alluding to here kara is just you know we have to be okay with you know democratic versus republicans you know even ideally when we take a look over the past 50 years the digital age is much more increasing right now we have ADI to think about we have a lot of things driving differences right now that we take a look at so shifting in incentives for outlet social media platforms um audiences aren't getting even more buy-in so what they're feeling i think about trends in the market and popularization of different ideas so with our process we just need to make sure that our client folks and their experience can lead the to clarity just to get some time to just the buzz of the headlines out out of what they're actually reading and let's get down to the basics of what's really happening hey you're in michigan so i'm sure you remember this slogan i mean that was us economic policy probably for 50 60 years and that is what's good for gm is good for the us is it's hard to change that and saying what what's good for tesla is good for the us oh i feel like you do see that everywhere right even in any of the morning feeds that i read we see it everywhere and what are they trying to get involved with with now and how is he continuing to to make a a staple so yeah i mean before it was gm i live in michigan i'm not far from like some of the big plants in in flint michigan here which is only about an hour away um and we also need to make sure that even folks are looking to have tesla in their portfolio um are we too happily laid it waited there and then what are the tax of the locations especially if you're in a ball fight account it's a whole nother discussion but when we take a look at the world right now we're paying for taxes we have huge a lot of legislative risk right now and what are our taxes actually are going to be in the future they can go nowhere but uh so i think that you know rather than getting tripped up on too many individual pieces we need to make sure that we're urging our folks to answer questions like long-term goals even right so instead of looking into the tesla ai how can they get involved in the new great thing more it's what are financial rules when do they need to reach them you know how much risk and folks really tolerate do they do they need the growth that they're speculating or thinking they want or they already kind of won the game at work and now we need to do a great income or draw strategy for them so these are all things we're safe i get it i get it i get it yeah maybe what's good for tesla is good for the world but not necessarily the stock market and your retirement right right absolutely okay all right so emerging trends here you think we're going to see a shift in as far as the leading sectors in the market or we kind of going through a transformation here um what what is your take on it i really think we're still goodness seeing with what's happening with ai tech meta all those platforms i think are going to continue to be successful and do well i do think one area we should look out for although is more nuclear power in the future especially with what we're seeing overseas um clean energy i really think is as i'm being view pointed on in a lot of upsetters so i think we can look out for that i always always want to continue to maintain looking at some of our staples like health care as well so those would be some of my key fundamentals uh where are stabilizers what are sort of things that shouldn't be steady eddy and then what is still that a newer hub i'm like sure you know we had the apples and then amazon's and microsoft to the world but uh it's really that tack ai and that i continue to feel like we're gonna uh seeding out of the forefront uh of some big things still for the for the next year plus okay all right i'll uh up by that and uh big finally when we have this conversation in a year is economy gonna be booming the same or lower oh i think that that has a lot to do with the November and election uh yeah i'm a very optimistic person i want to say that it's grand to be booming but i have my own reservation um but i have deeper reservations than just a year from now my reservations lie a lot more and i feel like legislative and tax rents in the future like for what are you know my oldest daughters 15 years old i really really am concerned about the future for our youth um but a year from now i think that uh there's a lot more to see and what happens at election time but also even some of these numbers that just come out here i just i'm not i'm not sailing it yeah well you know um so i'm just gonna make a joke you're talking about kids but you have young kids uh i'll low refrain from the joke my kids are my kids are grown it's their problem i don't care anymore that's kind of where i'm at with it it's like hey i'm just uh gonna enjoy my life and uh hopefully my uh my money will outlast me but you never know about these things right and that's i'm sure biggest question yeah it's it's the and i agree with t-care you never know it's the biggest question that our actual clients ask us and do i have enough money am i going to be okay with health care costs and things happening in the world about gonna have enough income to sustain my 25 or 30 years of retirement because with advancements in in health so we have to have more diversification but some are like you carry they're like hey the day i thought you would say the day you pass away if all of your accounts are zero you won that is well well i mean the one thing i learned to kind of 20 years ago is never retire said i retire right as long as you can do things bring in enough cash flow that'll keep you happy as long as you can and then when you can't the money isn't going to matter anymore anyway so uh that's kind of money active too if we stay active involved and keep our brain power going and keep our bodies moving i say that last thing happened to us we can do we do uh continue to maintain better by staying active so i i fully agree with you carry keep on doing something that you enjoy mentally active uh physically active because uh you'll just have better quality of life and financially active appreciate you coming on as always Mindy just tell us where we find you how do we connect with you on the web sure thanks jerry appreciate it um you can find us at wealthmishingin.com or by all means anytime you reach out there we do actually have some reports informational educational sessions set up but that's wealthmishingin.com right any best way to locate our Macintosh and Associates firm and find out about more information and how we can help excellent looking at your window there it looks like uh winter is coming although you heard it's pretty warm up in michigan right now but uh it's been great you know we've having some ball mornings now for sure and it's getting dark earlier but we still have some great weather and it's it's been good for our outdoor sports seasons as for sure okay well we only have two seasons here in florida i'd like to say hot and hotter so right now we're getting done with hotter and we're going into hot which is fine with me so we'll talk to you again soon hey you've got a question for Mindy or myself kl at kerrylutz.com that's the email address and you'll find a link to Mindy's site in the show notes this interview on financialsurvivalnetwork.com while you're there please sign up for your free newsletter Mindy always a pleasure thanks so much for stopping by thanks karen thanks for listening to kerrylutz's financial survival network your solution to today's trying times for the latest go to financialsurvivalnetwork.com financial survival network now more than ever (upbeat music) (upbeat music)
