Learn more about mentalhealth with this collection
How to develop a healthy relationship with money
How to create a budget
The impact of emotions on financial decisions
The current economic situation
2022 is a year of inflation. It resulted from the huge disruption that Covid caused. The high inflation and low economic growth are all over the media.
- Inflation is getting higher
- Stocks are down
- People are starting to get fired
- Companies are barely hiring
Investment ads claim they have investment strategies to generate significant returns during inflation, yet famous hedge funds like Tiger Global are down 60%. So don't be seduced by investment ads that try to profit from fear and greed.
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Tips on investing
Avoid taking too much risk when the economy is booming. Likewise, avoid buying into things you don't understand.
Things only become troublesome when you make bad investment decisions during periods of high growth. For example:
- You bought houses without income in the 2000s.
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The economy is affected by various factors out of your control
When you recognise economic patterns, you'll know that the current trends are expected and normal.
- Knowledge. Learn more about how the economy and stocks work. When you have better knowledge of the history of finance, you won't fall for too-good-to-be-true investments....
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Look at the big picture
When we're faced with economic problems, we can view them in two ways:
- Up-close perspective: Looking at inflation, interest rates, debt, consumer spending, joblessness, etc.
- Broad perspective: Looking at long-term trends and historical patterns...
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Periods of high growth and low growth
Periods of high growth and low growth are not uncommon. For example, look at how the world went from the great 1920s to the Great Depression in the 1930s.
Investor Howard Marks discusses the concept of cycles in his book, Mastering The Market Cycle. He states that the economy grows...
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