On episode 62 of Portfolio Rescue, Ben Carlson and Duncan Hill are joined by RWM Advisor and CFP, Kevin Young, to discuss US Government default risk, inverted yield curves, safeguarding your financial plan, and much more! Submit your Portfolio Rescue questions to askthecompoundshow@gmail.com!
►00:00 – Intro
►01:05 – How retirees should protect their portfolio.
►08:23 – Inverted yield curve.
►12:05 – T-Bills.
►17:18 – Safeguarding your financial plan
►27:49 – HSAs
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The debt ceiling is a limit set by Congress on how much money the federal government can borrow. It is a key part of the federal budget and affects the market in several ways. When the debt ceiling is raised, the government can borrow more money, which can lead to higher interest rates and inflation. This can have a negative effect on the stock market and other investments. On the other hand, if the debt ceiling is not raised, the government may not be able to meet its financial obligations, which could lead to a government shutdown.
The debt ceiling has been a controversial issue for many years. It is seen by some as a necessary tool to control government spending and by others as a way to limit the government’s ability to borrow money. In 2011, Congress was unable to agree on a plan to raise the debt ceiling, leading to a government shutdown. This caused a lot of uncertainty in the market, as investors were unsure of how the situation would be resolved.
The debt ceiling does matter to the market, as it can affect interest rates, inflation, and government spending. When the debt ceiling is raised, the government can borrow more money, which can lead to higher interest rates and inflation. This can have a negative effect on the stock market and other investments. On the other hand, if the debt ceiling is not raised, the government may not be able to meet its financial obligations, which could lead to a government shutdown.
For investors, the debt ceiling is an important factor to consider when making investment decisions. When the debt ceiling is raised, it can lead to higher interest rates and inflation, which can have a negative effect on the stock market and other investments. On the other hand, if the debt ceiling is not raised, the government may not be able to meet its financial obligations, which could lead to a government shutdown.
At Portfolio Rescue 62, we understand the importance of the debt ceiling and the potential impact it can have on the market. We work with our clients to develop a financial plan that takes into account the potential effects of the debt ceiling and other factors. Our goal is to help our clients achieve their financial goals in a safe and secure environment.
This episode is sponsored by Liftoff. Visit https://liftoffinvest.com/ to learn more.
Good info on HSA accounts as alternate retirement plan.
Great show guys, thank you!
We own a small business so don't have access to an HSA through an employer. Can someone please help me find an HSA that I can use as an extra Roth?
Duncan is that Zero hat the skateboarding company? Lol I hope it is man
Many people don't have an HSA simply because they don't have the option for a high deductible health care plan at work. Having great health insurance is not a bad thing.
Around the 6 minute mark there was comments about the US Debt. Another point to make about US debt of 31 trillion is that the clock was created by a conservative group and intentionally conflates all debt to make the number bigger and scarier. There is a fundamental difference between public goverment debt and intergovermental debt. When you take out the intergovermental debt, the number drops to 24 trillion. And then, within that 24 trillion, roughly 8 trillion is held by foreign entities, 6 trillion by the federal reserve, and the rest is held domestically.
One reason t-bills are giving such a good rate now is specifically that the Federal Reserve is unwinding QE. It's estimated that it will reduce it's treasury portfolio by about 2 trillion. Which naturally helps to raise interest rates. And reduces the debt.
Look, I'm not saying how we handle the debt isn't important. It is. But often people use it as a cudgel to get their preferred political outcome. So they act like it's a crisis and start yelling we need to cut this and cut that or alternatively it's time to bleed the rich. Don't let fear mongering drive your decisions. Make informed choices based on known information and what you believe are your preferred policy outcomes.
HSA discussion was weird. It's triple advantaged so if you don't anticipate health care costs it is better than backdoor Roth. You can save your receipts for decades and take the money out whenever, which also makes it better. If you have high medical costs, don't use it.
To see how silly the "trillion dollar platinum coin" talks is just imagine that if Treasury cooked a trillion dollar chocolate chip cookie the effect would be the same.
The fact the media uses the "platinum coin" image makes it seems a reasonable proposal, but it simply dumb how media spend time on this.
TQQQ is your friend and so is SOXL and LABU! Need to do a deep dive on leveraged ETFs from Proshares and Direxion.
HSA is great!