Ep 32: The State of the Economy with Marc Werkmeister and Mike Jacobson (Guest appearance on the NebraskaLand Bank Podcast)

Make Retirement Work

(Note: Today's episode sounds a little different as it was originally produced for the NebraskaLand Bank Podcast)

On this episode:

With a volatile market, rising interest rates, and high inflation, many people are worried about the state of the economy. On today’s show, two economic experts, Senator & NebraskaLand CEO Mike Jacobson and Certified Financial Planner Marc Werkmeister join us to break down the trends we are seeing in the economy and what it all means.

More Details:

The current economic environment has many people worried. Interest rates are up, the stock market is volatile, bit coin has lost tremendous value, and inflation is up. So on today’s episode, we want to sit down and discuss the economy and the future trends we should expect to see with two economic experts, Mike Jacobson and Marc Wekmeister. Mike Jacobson is the CEO of NerbaskaLand Bank and the Senator for District 42 and Marc Werkmeister is a Certified Financial Planner with PFA.

Inflation is when too much money is chasing too few goods and services. Looking at where we were with supply chain issue and the influx of money into the economy with stimulus checks, inflation was bound to happen. To combat inflation, the Federal Reserve raises interest rates, promoting people to stop buying and start borrowing and we are seeing this impact in the housing market already.

By a strict definition we are not technically in a recession yet. However, we are experiencing some of the signs of a recession. Whether we will end up in a full-blown recession isn’t known yet. We’ll explore some scenarios and what you should be doing to protect your wallet.

Join us today as we get into these topics:

• What causes inflation and what can be done to fix it?
• Why stocks and bonds are both experiencing volatility.
• What pre-retirees should be doing to protect themselves
• How the housing market is responding to the economy

Timestamps:

0:37 – Sorry to keep you waiting!

1:14 – We love Nebraska Day

2:56 – Welcome to our guests

3:28 – What is the overlook on the economy?

9:44 – Getting back to ordinary

12:58 – Are we in a recession?

15:00 – How would you protect your 401(k)?

18:38 – Bond-ladder investing and CD letters

19:40 – What is your advice to a hopeful homebuyer?

21:44 – What are we looking at with home lending?

25:59 – Making compromises with homes

27:31 – Figuring out what your long-term and short-term goals are

29:35 – What are some of the positives?

32:59 – Trivia: Current Events!