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The economy plays an important role in the investment process. When it tanks, you see much of the money you saved and invested go by the wayside. Loss is a risk that you take when choosing to invest in a volatile market. By better understanding how the nation’s economy affects your personal savings and investments, you’re at a distinct advantage.
What You Need to Watch for
Here are five signs that the economy isn’t doing as well as you thought it was:
- Unemployment rates continue to push lower. It’s nearly impossible to beat a 4% unemployment rate. Even if people choose to leave a job for better career opportunities, it’s harder for smaller employers to fill the positions that are open. When unemployment rates are low, it’s usually because the economy thrives. Inflation increases when employers are forced to raise wages to retain employees and attract new ones.
- People are buying fewer houses. The housing market takes a steep decline. You notice that fewer homes are being sold in your community. If you’re considering selling your house, you’ve been advised not to unless you absolutely have to. The California housing market is a good indicator of how well the economy is fairing because property prices are among the highest in the country.
- Inflation is on the rise. The price of goods and services continue to increase despite wages remaining the same. If you notice that your hard-earned dollars are working doubly hard to pay for the same goods, it’s due to inflation.
- Credit card debt and late payments are becoming the norm. Because the cost of living is on the up, people aren’t able to pay their bills like they once were. Credit card companies report more debt and late payments. This is another indicator that the economy is struggling.
- Economic expansion cycles are contracting. This may not be something of concern for you unless you’ve got money invested in the stock market. It is important to pay close attention to economic expansion cycles. It helps you see the bigger picture and prepare for changes in the economy.
These five signs allow you to better prepare for a bad economy, thus allowing you to make better decisions in regards to your savings and investments. You will be able to weather financial storms with greater ease because you’ll have calculated the risks and made the necessary preparations to safeguard your retirement finances.
Red Rock Secured’s Role in Your Retirement Savings
Having a diversified retirement portfolio sets you up for success. It prevents you from losing large sums of money through one type of investment. If you’ve been considering a Gold IRA, now is the time to transfer your retirement account. Red Rock Secured makes investing in precious metals easy with our Home Delivery services.
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