Why We Aren’t Panicking About The Economy

During uncertain times, you may feel uncertain about your finances and the economy. Sean shares why he isn’t panicked right now to help you also feel more confident about the future.

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The View From The Pinnacle

During uncertain times, you may feel uncertain about your finances and the economy. Sean shares why he isn’t panicked right now to help you also feel more confident about the future.

Click the timestamps below to fast forward to certain points of the episode.

 

Thing’s You’ll Learn Along Today’s Journey

Many are panicking about where the economy is going. But Sean isn’t panicked! He breaks down the several reasons why you don’t need to panic right now either.

Some have made the comparison to the recession in 2008. Is this similar or are there enough significant differences between then and now? This mimics natural disaster more than the recession trends happening in 2008 when a greater number of businesses and people had high consumer debt.

We’ve had high unemployment numbers as well as a stimulus package. The government has also incentivized businesses with the PPP. Spending habits have changed, but people are still spending. Our country is too innovative and full of hard workers for this to hold us down long-term. This time may hurt, but Sean feels our economy can handle this situation.

While COVID-19 is a serious situation, we have weathered epidemics and pandemics before and we will make it through this. Make sure you follow your plan to achieve your goals and get your news from sources you can trust.

Listen to the full episode or click on the timestamps below to hear the reasons why Sean isn’t panicking.

3:14 – This is not the same as 2008.

4:32 – What was the lead up in 2007 and 2020?

6:37 – How has the Fed reacted?

8:01 – Consumer spending has continued.

11:05 – Is this going to end up being more of the “great suppression”?

 

Looking Back From The Mountaintop

 

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MEET YOUR HOST...

For over a decade, Sean Lee has helped families reach and maintain their financial goals. As a trusted advisor, he coaches and assists his clients with their financial goals by focusing on the fundamentals and takes a practical and personal approach when working with them.

As a trusted professional in Utah, Sean has been featured in The Wall Street Journal’s Market Watch, The Deseret News, The Salt Lake Tribune and USA Today. He has also been featured as a local financial advisor on Utah’s NBC station, KSL 5.

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