Today’s Question:
The phrase ‘fake news’ has risen to prominence over the past few years but misinformation has been floating around long before that. With the rise of the internet and technology, we’ve never been more connected. That’s a great thing unless you end up reading incorrect information. Let’s clear up some of this fake financial news before it ends up hurting your retirement plan.
Confidence Corner
Ever read a headline and think, “Is that true?” There are several headlines that make their way into the news from the financial world, but before you get in a panic, let’s look at them logically to figure out if they are real or fake.
But first, Jim Cramer from Mad Money made headlines of his own when he recently said he was shifting his show to focus more on education (instead of only what has tended toward more entertaining). So what is he saying now is the way to invest…and does Nathan agree?
Starting off our headlines of fake news, you may have heard the idea that “Social Security is going broke.” If that were really true, does that mean you will stop receiving funds? Nathan says this is actually not a cause to panic, but you should understand that your statements may not accurately reflect what you will receive later on.
Ever heard someone say the dollar will crash, so you should buy gold? Is gold an investment worth having? Historically, it does not grow your wealth over time. So, consider gold and other metals as commodities (gold makes great jewelry) but think before you buy it as an investment strategy. It’s important to think to your plan and see if it fits with your overall goals.
Finally, have you heard someone predict the next market crash? Did it make you worry about your investments? Historically the market grows tremendously over time. So how can you diversify your portfolio in order to handle the volatility of the market?
Listen to the full episode for more or click on the timestamps below to dig deeper on one of these headlines (real or fake) in financial news.
1:29 – In the News: Jim Cramer, host of Mad Money, is shifting more toward education on his show and now agrees with the value of index funds.
5:59 – Fake News: Social Security going broke. But does that mean you will stop receiving funds?
8:47 – Fake News: The dollar will crash–buy gold now!
11:33 – Fake News: Recession is coming.
13:16 – Every few months we see market fluctuations.
16:05 – You can’t let a headline throw off your retirement plan.
A Point Of Wisdom:
Related Content:
PODCAST: Decision-Making Roadblocks in Financial Planning
PODCAST: Never Assume in Retirement Planning
Additional Resources:
Download Your Retirement Rescue Toolkit – Learn More About Our Firm
Your Guide:
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