People are furious right
now. I go to the grocery store, not so much to do major shopping, but just a few things I might need, like bacon, cheese, bread, juice, milk, etc. And it flips me out, they say it’s like $75. I say, “I only got these few things!” or you go to the gas pump and it’s $125
to fill up your tank. You’re like “holy smokes!” I remember what it was like when I was growing up, or how much it cost 25 years ago and it’s exponentially higher. Do you not think people are feeling this? “YES!”
I read something somewhere where it said the average American household that makes $100K or less is spending 24% of their income on heating, electricity and fuel. 24% …I mean that’s like a mortgage payment. It might be as high or higher than the mortgage payment. So, you’re essentially making two mortgage
payments. One to your house and one to just keep your house to keep the lights on, and to keep food in and enough gas in the car so you can go to the office to make enough money to do this thing over again next month. I mean, the Fed the other day just said they expect this pain for two more years. And guess
what? It’s going to get worse before it gets better. I think in December or early next year we’ll see $6-$7 gas. And when people see that, they’ll be like “holy smokes!!!
And so you know now, people are pissed. They want to talk to someone. If their Advisor has them just in the market, they’re getting pummeled, and that pain will probably continue in the market for a fair amount of time. Harry Dent's Rant on Friday, June 30, 2023 offers some insights on what can be expected. Expert economists like Harry Dent predicts
we might not see this volatile market over until late 2024.
So, people are mad, they want to talk to someone. They probably want a second opinion from someone other than the Broker who’s saying, “you know, this too shall
pass.” Well yeah, but in the meantime it’s my account that just went down. Imagine I retired January this year or December of last year. I put $1million in and I have $750K left, and I turn on the TV and they say I have potentially 18 months more years of pain. It’s
like I don’t know if I have another 18 more months that I can stomach this. My account is already $750K, I don’t want it to go to $500K. So, you say there is a chance it could go to $500K? Oh my gosh, don't flip! There is a solution. . .
