• How We Make Long-term Decisions in This Economy with Austin Smith

  • Dec 19 2022
  • Length: 37 mins
  • Podcast
How We Make Long-term Decisions in This Economy with Austin Smith By cover art

How We Make Long-term Decisions in This Economy with Austin Smith

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  • The current state of the economy is not exactly bullish. Disruptions left and right, scandals in the crypto industry, and inflation and interest rate hikes are all over the news. It’s tough to make a good call under these conditions, but you can mitigate some of the risks if you know where to put your money. How do you make sound financial decisions in this market? What are some best practices when investing during these times?   In this episode, Austin joins me to discuss the market and why we’re still bearish. We explain the differences between the economy and the stock market and why the first year of Covid-19 exemplified them. He shares his thoughts on tax codes and why tech companies need to be regulated more. He describes his trading experience and what he’s currently looking into for investments. We also deliberate on what’s happening on the crypto side of things, especially with the recent FTX scandal that rocked the crypto industry.   "If there's no legislative action done by congress by 2025, the current estate exemptions are pretty much going to be cut in half." - Austin Smith   This week on Priorities Lifestyle:   The future of planning and investingWho Austin Smith is and when he joined Schulz WealthPaying state taxes from a legacy standpointAustin's thoughts on the current tax codesTaxing mutual funds and what happens if they goes downAustin's trading experience and how he chooses where to park his moneyMaking sense of why the markets are still downThe glaring differences between the stock market and the economyKnowing when to see a bubble in this kind of economyThe recent FTX scandal and the waves it's makingThe inefficiency of regulations on massive tech companiesWhy our long-term investments are based on sound decisionsWhat 2023 will be like for Austin   Resources Mentioned:   TechScape: Inside the $8bn FTX crypto scandal – and its real-world impact   Our Favorite Quotes:   "Even if the value of a mutual fund goes down, there's still some trading within that fund." - Rob Schulz "When we do long-term planning, we tend to make good decisions around investments.” - Rob Schulz "There's no safe backstop in the crypto world." - Austin Smith   Connect with Austin Smith and Rob Schulz:   Schulz WealthPhone: (817) 405-4014   About Rob Schulz and P&L Priorities & LIfestyle Podcast   The P&L: Priorities & Lifestyle Podcast is a show for business owners. In each episode, host and financial planner Rob Schulz sits down with business owners and the professionals that serve them to talk about business building, life, money — and the all-important transition out of the business, which inevitably happens to everyone who has ever founded a company.    Email Rob at rob.schulz@schulzwealth.com with questions and comments, or to schedule a one-on-one conversation.    Follow Rob on LinkedIn Follow Schulz Wealth on LinkedIn Follow Schulz Wealth on Facebook   Order Rob’s book, Thoughts on Things Financial, on Amazon | Barnes & Noble | Kobo | iBooks | Kindle   Subscribe to the podcast here: Apple Podcast  Spotify Google Podcasts Stitcher Audible  And, if you enjoy the show, please leave a review to help others discover the podcast. *You’re listening to P&L: Priorities & Lifestyle with your host Rob Schulz. Rob is the Founder and President of Schulz Wealth. All opinions expressed by Rob and his guests are solely their own opinions and do not reflect the opinions of Schulz Wealth. This podcast is for informational purposes only and should not be relied upon for investment decisions. Please refer to our website for more information: schulzwealth.com.
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