Kerry Lutz's--Financial Survival Network

Summary:
This Black Friday didn’t look quite like last year’s, so I sit down and chat with Eddy Gifford to discuss the shift in shopping habits. Given the adjusted inflation numbers, online sales are not up in the way that businesses want us to think they are. As foot traffic declines, we’re starting to see the destruction of demand, which also means that employment will start to go up. Ultimately, things are going to get worse before they get better. Tune to get a glimpse of what’s to come in 2023.

Highlights:
-Black Friday is not what it used to be; the retail sector has spread out Black Friday promotions
-Online sales are not actually up given the adjusted inflation numbers
-We’re not seeing the same foot traffic we used to in stores
-We’re seeing the destruction of demand, which means employment is going to start going up
-Treasuries have started to retreat
-The first/second quarter of next year are probably going to be ugly
-We probably haven’t seen a bottom occur yet, and. things are going to get worse before they get better
-The economy may have impacted the election in terms of Democrats attacking Roe v. Wade
-The idea of the Fed easing at the perfect time may not be feasible

Useful Links:
Financial Survival Network
Tactive

Summary:
We saw the average price of a Thanksgiving meal go up this year as a direct result of inflation. How much longer will we see these trends, and can you experience financial wins despite volatility? Business transformation expert Carl Gould comes on the show to talk about this topic, and proposes a few different strategies for investing during this time. Furthermore, we discuss what is going to happen with employment, and things to be mindful of within your career or business. Tune in for more insight.

Highlights:
-The average cost of a Thanksgiving meal is up, which is directly indicative of inflation
-Some retailers are rolling back their prices for Thanksgiving food items
-We should expect higher than normal prices for the next 3-6 months
-You want to look for industries that are low now and on the rise (i.e. real estate)
-Invest and then participate in all of the up gains
-The Federal Reserve is being careful not to stall the economy while raising rates
-The job situation hasn’t deteriorated yet, but we can envision this happening
-Salaries will probably come down, and an unemployment correction won’t happen for a while
-When hiring, be cautious of those that have been moving around and may back out during tough times
-The average tenure of an employee is now three years
-Performance based pay is also very valuable
-One of the top strategies in a volatile economy is to bundle products/services together. This eliminates the cost of client acquisition

Useful Links:
Financial Survival Network
Carl Gould