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There are recessions and there are depressions, and no crystal ball can tell you what’s coming next…
In this episode, Charlie Massimo and Peter Anastasian discuss the possibility of a future depression and the factors that could contribute to it. They explore reasons such as demographics, healthcare costs, and the difficulty of cutting social security benefits.
While emphasizing the importance of financial preparedness and caution against unnecessary risks, they also discuss the US national debt and the global nature of the potential depression. Charlie and Peter stress the need for investors to work with fiduciaries who prioritize their clients’ best interests.
Peter and Charles discuss:
- The importance of working for investors with fiduciary responsibility in their client’s best interest
- Rising healthcare costs and its impact on the economy
- Difficulty of cutting social security benefits and entitlement programs
- Importance of financial preparedness and caution against unnecessary risks
- US national debt and the global nature of the potential depression
- And more
Related: Umbrella Insurance: The Extra Layer of Protection Your Wealth Deserves