Ready for inflation predictions? We discuss the places inflation could strike again in 2025. We also talk economic trends, inflationary patterns, and government spending's role in the economy. We also share the policy implications under different administrations, and how they will impact us going forward. Today we discuss...
- Reflection on broader U.S. economic issues, such as government spending and budgetary challenges.
- Analysis of past inflation cycles and comparisons to current monetary policy efforts.
- Speculation on future economic strategies and challenges in addressing discretionary spending.
- Younger generations often assume they won't receive Social Security benefits due to government mismanagement and financial instability.
- Reducing government spending could have deflationary effects by removing a significant portion of GDP, potentially causing recessions.
- Tax cuts are generally inflationary as they increase disposable income, but public dissatisfaction with perceived government waste limits willingness to pay higher taxes.
- Immigration impacts economic growth by providing cheap labor, but eliminating low-wage workers could lead to higher food costs and inflation.
- Energy abundance, particularly through nuclear power, is highlighted as a critical factor for economic growth and poverty alleviation.
- Analysts remain cautious about the economy's direction, advocating for managed investment risk and avoiding "all-in" strategies amidst uncertainty.
- Nuclear energy is resisted due to public concerns (e.g., NIMBY sentiment) despite its potential as a clean energy source.
- Rising energy costs directly impact household budgets, inflating expenses for housing, insurance, and transportation.
- Economic inflation has made $100,000—a salary once considered wealthy—barely sufficient to meet the average American household's annual expenses.
- Housing affordability challenges persist as property taxes and insurance costs outpace wages, undermining traditional financial planning strategies.
- Perceptions of climate change vary widely, with debates centering on human versus natural causes and the effectiveness of governmental policies.
- Conspiracy theories about disasters like wildfires gain traction amid frustrations with government responses and insurance industry practices.
- A significant portion of U.S. income inequality debates focus on the disparity between being "rich" (high income) versus "wealthy" (high net worth).
"Cash is not trash... Cash is King" - Kirk Chisholm
Subscribe & Download
Never miss out on a new episode! Subscribe using your favorite podcast app.
Sign up to be one of our Money Tree Ultimate Insiders. You will have instant access to new episodes, automatically have access to our monthly giveaways, and the potential to be a guest panelist on our show
Looking for a better way to invest? Consider Betterment.
It doesn’t cost much to start, and you get access to a portfolio built around your risk tolerance and your goals. Using Modern Portfolio Theory, pioneered by a Nobel laureate, Betterment can help you build wealth without getting caught up in the noise of the market.
Today's Guest: Kirk Chisholm
Kirk Chisholm is a Wealth Manager and Principal at Innovative Advisory Group, an independent Registered Investment Advisor located in Lexington, MA. He has been providing wealth management services to individuals, executives, entrepreneurs, and their families since 1999. He is an outside the box thinker, risk manager, inflation expert, blogger, podcaster, and all-around interesting guy. Kirk is dedicated to developing lasting relationships with all of his clients and their families. One of the benefits of working with Kirk is his patience, empathy, and his ability to provide clear and easy-to-understand explanations to complex financial topics.
Kirk developed a unique philosophy for the wealth management industry called Risk Management First. The medical field has a similar way of thinking of “first do no harm”. This philosophy focuses on risk management for clients in all aspects of their lives in ways the industry does not address. Risk management does not stop with investments. It also requires working closely with other professionals to address areas of their financial lives not currently being met.
In 2008, Kirk co-founded Innovative Advisory Group to address the needs not being addressed by the wealth management industry. It started with specializing in alternative assets held in retirement accounts (i.e. self directed IRAs/401ks). Then the company expanded into the specialization of college funding (i.e. planning, strategy, and paying the least possible for a high quality education), Risk Management First, exit planning for business owners, advanced planning (estate, tax, etc), and providing practice management and leadership training to other financial advisors, accountants and attorneys.
Kirk's Online Presence:
Today's Panelists
- Kirk Chisholm | Innovative Wealth
- Douglas Heagren | Mergent College Advisors