About this episode
Welcome back to The Retirement Answer Man Podcast, I am your host, Roger Whitney. Some people know me as THE Retirement Answer Man and I’m here to help YOU make the most of your retirement years, not only through wise financial planning, but also through maximizing your life to be exactly what you want it to be. On this episode I’ve got some thoughts that I think will help you simmer down the worry kettle that may be cooking inside you. I hope you take some time to listen to this episode to understand how you can remove some of the worry and stress you may be feeling. We love low gas prices, but what impact is it having on the global economy? I’m sure you’ve been to a gas station lately. The low prices at the pump are a welcome relief, to be sure. But the thing we don’t think about is that our little corner of the world is benefitting from gas prices at the expense of those who produce it. Some stats are showing that major petroleum producers have seen a 70% drop in profits recently. What impact does that have on us (besides the lower gas prices)? I’m going to fill you in on the worldwide implications of low oil prices and give you some thoughts to consider about your response to them. Have you heard the term “black swan” in financial talk lately? Isn’t it great how the powers that be in the financial industry like to come up with all these dramatic names to describe certain phenomena? The term “black swan” is one of those that you hear now and then, especially in times when world events are a bit hectic or volatile. What does it mean, and more importantly, why should you care? I’m going to fill you in, on this episode of the podcast, and I’m going to point you toward an understanding of world events that can help you feel a bit more at ease. How confident and at peace do you feel in light of what’s happening in our country and in the world right now? If you’re like most people, world events like hunger, wars, terrorism, elections, and a host of other things can get you kind of wound up inside. There appears to be every reason to be stressed, worried, and concerned about the future in light of what’s happening now. Whenever I feel that way I find it’s very helpful for me to take a look backwards, at similar times in the past. What good does that do me? You’ll find out by listening to this episode of The Retirement Answer Man, and I hope you’re helped by it. Here’s a practical SMART Sprint you can do today! Every week I bring you a short, timely, practical thing you can do to take better control over your financial future a small step at a time. I call it the SMART Sprint and today’s has to do with your retirement accounts, the amount you’re having taken out from each paycheck, and a simple way you can get ahead of the game so that come the end of the year, you’re not in a panic about contributions and deductions. Are you interested? Be sure to listen. OUTLINE OF THIS EPISODE OF THE RETIREMENT ANSWER MAN [0:27] Roger’s introduction to this episode. [0:50] How you can get in on “6 Shot Saturday.” HOT TOPIC SEGMENT [2:33] Announcements from the oil industry attempting to stabilize the oil markets. [4:30] The impact the oil market downturn is having on the world. WHAT DOES THAT MEAN? SEGMENT [6:55] What is a “black swan?” PRACTICAL PLANNING SEGMENT [8:48] How confident do you feel in light of what’s happening in our world and in our country? [10:55] A historical look at similar world and financial issues. [18:31] Is the U.S. in its “twilight” economically? [22:48] What is with all the global violence? THE “BE HAPPY” SEGMENT [27:03] One way to leverage yourself toward happiness this week - “Time Will Tell.” [26:34] Happiness for you is different than it is for another person. TODAY’S SMART SPRINT SEGMENT [27:43] When’s the last time you’ve checked your contribution account amounts? RESOURCES MENTIONED IN THIS EPISODE Text “Sixshot” to “3444” and get Roger’s Six Shot Saturday emails. Contact Roger: http://www.rogerwhitney.com/retirementanswers/ Roger’s retirement learning center: www.RogerWhitney.com/learn The Retirement Answer Man Facebook page: www.Facebook.com/RetirementAnswerMan