Everybody got a first look at the first draft of Q1 2019 GDP numbers this morning. While the number is negative, I think it’s important to remember the expectations going into the announcement.
Another thing for investors, does ONE quarter of GDP really have that much of an impact on your long-term portfolio? Just something to keep in mind.
Here’s what I’ve been reading this morning:
- In this latest post, James addresses why the financial media tends to focus on fear-driven stories and under-reporting stories that matter to investors. He gives insight to investors on what they should focus on instead.
- In any setting, talk is cheap and it’s better to focus on what people actually DO versus what they SAY. Nick gives examples from finance like Warren Buffett and Bill Gates’ stance on taxes, examples playing out in real time now like calling essential workers ‘heroes’ instead of paying them like heroes.
- Financial advice doesn’t need to be zero-sum. One person’s gain is not another person’s loss. Tony illustrates how salespeople in the 403(b) space operate in a zero-sum game, and how it really hurts the teachers they sell products to.
- Maureen discusses a handful of different ways to budget. Whether it’s the 50/30/20 approach, or finding different ways to pay yourself first, or spend first and save later. It’s important to have a systematic approach!