Fed Up

Are you fed up with your current financial journey and with letting the experts guide your personal financial decisions? In 2007, as the economy started to show signs of strain, Bernanke stated that there was no bubble to burst and that the subprime mortgage issue would not have a significant impact on the overall economy. However, just a few months later, the United States experienced one of the most significant financial crises in history, leading to the Great Recession of 2008. This incident clearly demonstrates the fallibility of the government’s predictions. Jerome Powell, the current Chairman of the Federal Reserve, has also recently mentioned that he does not anticipate a recession. While it’s comforting to hear a positive outlook, we must keep in mind that economic realities can quickly change, and relying solely on such forecasts can be risky. Instead of placing trust in the government’s economic predictions, we should focus on building our own financial plan in alignment with God. 

An individual’s financial well-being, both in the short and long term, should not be subject to the uncertainties of government policies and decisions. By adopting responsible financial planning strategies, such as budgeting, saving, and investing wisely, we can actively take control of our economic future. None of us can predict the future of which we have no control. However, we can control our decisions. As we think about 2024 and whether or not the U.S. will be in a recession, we should still be pursuing our financial goals. Do you want to buy a home, an investment property, open an investment account, start a side hustle or small business? I want to encourage you to move forward with your plans no matter what the ‘experts’ are saying or not saying. 

-GC