Episode 18 – The History of Inflation

In episode 18 of Building Wealthy Habits, Randy Barkley, Laura Lee, and Jeremiah Lee discuss the complexities of inflation and its effects on personal finances and the economy. 

In episode 18 of Building Wealthy Habits, Randy Barkley, Laura Lee, and Jeremiah Lee explore how inflation has evolved over time, its historical context, and its current impact on spending habits and investment decisions. They emphasize the importance of understanding inflation’s impact on people’s spending habits and the economy’s overall stability to make informed decisions. The team also discusses the economic crisis of the 1970s, the current state of the housing market and inflation, and the crucial aspect of preparing for inflation’s impact on retirement. 

Listen to the Flying Lizards’ “Money”: https://open.spotify.com/track/5rgY6vN5CaEL3boucCi3CT?si=705a36b6cfe042a5

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This week on Building Wealthy Habits:

  • 0:00:00 – Discussion of the history of financial planning, including the creation of the SEC after the Great Depression, the introduction of Social Security, and the transition from pensions to 401ks.
  • 0:13:20 – Discussion of different financial designations like CFP, CPA, JD and their roles. CFP is highlighted as the “quarterback” for coordinating different aspects.
  • 0:15:05 – Fiduciary duty is discussed and its importance for prioritizing clients’ best interests. Signs that an advisor is doing a good job are covered.
  • 0:17:58 – Challenges of understanding clients and structuring financial independence. Predictions that face-to-face conversations will have renewed value.
  • 0:20:36 – Discussion of where the industry is headed with technology. Complex client needs are highlighted as an opportunity area. Importance of money in everyone’s lives is discussed.

Connect with Jeremiah:

  • LinkedIn: https://www.linkedin.com/in/jeremiahjlee/
  • Email: Jeremiah@tricordadvisors.com

Connect with Laura:

  • LinkedIn: https://www.linkedin.com/in/laura-lee-59a83610/
  • Email: Laura@tricordadvisors.com

Connect with Randy:

  • LinkedIn: https://www.linkedin.com/in/rkbarkley/
  • Email: Randy@tricordadvvisors.com

This content is developed from sources believed to be providing accurate information. The information provided is not written or intended as tax or legal advice and may not be relied on for purposes of avoiding any Federal tax penalties. Individuals are encouraged to seek advice from their own tax or legal counsel. Individuals involved in the estate planning process should work with an estate planning team, including their own personal legal or tax counsel. Neither the information presented nor any opinion expressed constitutes a representation by us of a specific investment or the purchase or sale of any securities. Asset allocation and diversification do not ensure a profit or protect against loss in declining markets. This material was developed and produced by Advisor Websites to provide information on a topic that may be of interest.

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