Macro Minute: Week of November 6, 2023
Macro Minute readers, I feel like I have been covering some heavy topics the last couple of months. While things like interest rates, inflation, and Federal Reserve facilities are interesting to talk about, they can distract from what to focus on. The important things to remember are to live within your means (spend less than you earn), create an emergency fund (cash is paying 5% today), save for your goals (maybe a home down payment or a dream vacation), and invest the rest. Sometimes we get distracted and that keep us from doing the next right thing.
I want to encourage you that today is the best time to start doing the next right thing. If you are young, you should not be discouraged with a troublesome stock market. The longer it stays low, the longer you have to accumulate shares at a discounted price. If you are older, you are earning a higher rate on your cash savings than inflation for the first time in over a decade. I will throw this graph back up.
There is always a new reason to be worried, but human innovation and progress continues. We have to position ourselves to benefit from that progress over time. Let me urge you today, live your life in a way that brings personal fulfillment and align your investments to benefit from human progress.
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