Jul 18, 2023
In this episode, The Annuity Man and Adam Van Wie discuss:
Expectations versus reality
The future of work
Millionaire next door
Inflation is customizable
Right now, there’s a bit of a disconnect between the market and people’s expectations. This happens more often than you think, as people tend not to think outside their current situation. The market is looking ahead, and it's telling us that things are looking better on the horizon.
The COVID response changed how people work and think about work, and I think you see it reflected in the younger people's attitudes. On the horizon, we could see the power shifting back towards the employers.
The media depicts people with high net worth and clumps them together as the “evil rich.” In reality, most wealthy people earned that wealth through working hard, saving, scrimping, and being wise about their money.
Inflation is customizable, meaning it affects everyone differently. Inflation always hits the low end of society the most. If you’re categorically one of the “evil rich,” you can afford not to worry about inflation.
"You have to have a plan; you have to stay the course. Don't be reactive, don't try and time the market. You will end up hurting your own results, and you won't get anything positive out of it. Don't be that guy. " — Adam Van Wie.
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