Establishing Financial Self-Awareness In Uncertain Times
This week's Well Within 10 Podcast (available anywhere you get your podcasts), features Kelly Soller, Managing Director, and Andrea Ernst, Senior Portfolio Manager, at Fifth Third Private Bank.
Check out the full interview below:
There is nothing consistent but change. In today's economic and political uncertainty, managing your money has never felt more emotional, and we know that this can be extremely dangerous in times of high volatility.
Kelly and Andrea touch on a few key items to help you better understand what (and why) things are happening and how you can best be prepared. Key takeaways:
- Get back to the basics. In times of uncertainty, get back to the foundations of your money flow. It helps to take the emotion out of money decisions and supports your long term goals.
- Inflation is cyclical. This too shall pass. Inflation has been driven by re-opening of the world in a post-COVID era due to worker shortages, supply and demand, and several other factors. We anticipate the Feds intervention will lead to a 50 basis point increase to slow down pressure.
- Understand your cash flow. During times of stress, it is an opportunity to understand your cash flow. Your stress is valid, but keeping track of cash flow can help you to drive awareness of where you currently stand to know how to move forward.
This episode is powered by Fifth Third Private Bank, bringing more than 160 years of experience as trusted advisors to high net worth and ultra high net worth individuals and families. With over 36 billion in managed assets, and named one of the top 40 wealth management firms in the US by Barron's. One of the world's best private banks by Global Finance in 2020 and 2021.
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