Planning For Your Future

I thought I would start this weeks blog addressing some major concerns that the most people are facing this week. When I write my blog I do it with a feeling. Some weeks it might be habits of successful investors, some weeks it might be to do with personal client stories that I have helped but what is on my heart this week is the ending of unemployment benefits and how it will affect millions of people. It, on the larger scale, could affect the economy in general whether it be good or bad.

First, I’ll start by saying, intend to look at things with a positive spin on things. I am also very straightforward. Some of my words may not sound positive, at first, but based on numbers and trends when I talk, I look towards the long-term future of my clients financial needs. We plan for the worst and hope for the best. With that being said, many people that have been relying on unemployment benefits will have to look elsewhere for aid. My heart goes out to everyone that has still not been able to get a job for fear of catching or giving the virus to loved ones or have lost hope in the process.

So let’s get down to it. From what I see in the newly released, lower than expected, job report, which I place a large onus on the surging delta wave, we can expect the unemployment drop to continue. The other good news is that it appears delta is peaking as new infections only went up 2% in the past week. This is great news as many states that were first seeing the surge are dropping rapidly. This bodes well for the economy and finding a job. There are lots of jobs out there now and now that unemployment is ending people are going to be motivated to re-enter the job force.

The stock market did take a bit of a dip with the jobs report, but I believe based on other factors mentioned above that we should see a great fall in economic growth and create more jobs leading up to the holidays! This is indeed good news! Not only is it more presents in stockings but also more economic growth. Some of these macro signs don’t really mean much to the average person. In this case, for everyone, signs are pointing to some good things in the economy. We might even see growth, at the same rate as the second quarter of the year, in the last quarter.

So what does this mean for the average, middle income person, to whom I dispense advise to on a daily basis? It appears we are on the downward trend of exiting out of the COVID-19 pandemic in the US and will see real job growth and economic boom in the next 6 months. We have all been though a very tough time. Now, is the time to start planning for new and better jobs and careers; and planning to setup emergency funds and long term retirement plans for for all my clients. We have been through one of the most biggest emergencies in the last year and a half. People now see how important it is to have a rainy day fund and sometimes a monsoon fund.

I will leave you with this, the first time something like a pandemic happens and you are unprepared its not your fault. If you do nothing to plan for the next “Pandemic” to happen it is your fault! If you have any specific questions about my thoughts above or anything else that is worrying you about related to this post, please reach out, I would be happy to help.

Cash Coach