Ep. 5 – Andrew Opdyke – Does the Economy Impact Your Retirement?
Andrew Odyke is a Certified Financial Advisor and Economist at First Trust Advisors, an asset management firm in the Midwest. We talk with him regarding all things economy and how it impacts us and the decisions we make.
On this Episode:
- Andrew gives his background and how he came to be an economist
- Andrew tells Radon and Murs his thoughts on the challenges we see in today’s economy
- Andrew discusses inflation in the economy and where it’s going now
- Radon and Murs hear Andrew talk about the government and equity and how it drives the market
- Andrew gives his opinion on the disconnect between the economy and the market
- Radon, Murs, and Andrew define GDP and discuss how it’s calculated
- Andrew talks about the recovering economy after Coronavirus
- Andrew talks about the effects of the election year and the economy
Key Takeaways:
- Emotions can win in the short term, but numbers win in the long run
- Take a step back to find the opportunity rather than focusing on the negativity and concern surrounding the economy
- Make decisions based on what is in front of you rather than guess work
Tweetable Quotes:
“Math always speaks the truth”- Murs Tariq
“At the end of the day, what economics is about is – what are the forces that impact how we interact with each, how businesses interact with each other, and how growth occurs in countries over time.” – Andrew Opdyke
Resources Mentioned:
If you are in or nearing retirement and are looking to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting the complimentary video course, Four Steps to Secure Your Retirement. To access the course, simply visit POMWealth.net/podcast.
To receive a free book, Get Off the Retirement Rollercoaster, leave a 5-star rating review on iTunes and send a screenshot to morgan@pomwealth.net.