Retirement Ready with David Kopyc-Fed Pauses Interest Rates-Good or Bad?

None

Episode Transcript

(00:00):
I love Friday morning because I getto speak with my friend David Kopek.
David is the best. He's thepresident of the Retirement Planning Group. Now
you know, David has his ownshow. It happens on our sister station
eight ten and one O three oneWGY. That's every Saturday morning from seven
to nine. Good morning, David, how are you, my brother?
Good morning, Jamie. I thinkit's gonna be like in the fifties today.

(00:22):
I think it's gonna be pretty nice. Yay New York in November,
Yeah, not bad, fifty six. We'll take it. We'll take it.
I'm gonna put up my Christmas decorations. So did you hear what I
just said? November? I know, I know. Listen, there's something
about getting older where time goes reallyfast. And when my parents used to
say that to me, I wouldgo, I don't know what you're talking

(00:43):
about. It time drags and itgoes very fast. Jamie, you are
so true, you know. I'lltell you what. You know? How
old I'm in my sixties. Yeah, And the thing is is that I'm
always flabbergasted because when people say tome, you know, I used to
be the youngest guy the room.Now I'm the oldest guy in the room,
and I can always What resonates inmy mind is when I hear over

(01:06):
and over again the past where Iwould hear my parents say, boy,
time goes by quickly when you getolder. Boy, they couldn't have been
more correct. I know it's sotrue, and when you're a kid,
you're thinking everything takes forever. Butboy, I guess that's how it's supposed
to be. All right, let'sjump in because I just saw this news
earlier this week, and I'm soglad to have you on the phone because

(01:27):
I wanted to talk to you aboutit. The Federal Reserve paused interest hikes,
so I wanted to know, like, is that good for the economy.
The answer is an emphatic yes,Oh great. And you know,
the numbers just came out, theemployment numbers and non farm pay rolls came

(01:48):
in at one hundred and fifty thousand. They thought it was going to be
one hundred and eighty thousand, possiblyhigher than that. Unemployment rate ticked up
to three point nine versus three pointeight which we had last So what they've
tried to do is to have asoft landing you know, you keep on
hearing that a soft landing. Mostindividuals on Wall Street, Jamie didn't believe

(02:12):
that it was possible. More andmore people are believing that Jerome Powell has
pulled, you know, a monkeyout of the hat or a rat out
of the hat, or whatever youwant to call it. What's that term?
A bunny out of the hat?A bunny out of the hat.
So he's actually is doing a prettygood job here in regards to pulling out

(02:36):
a very very difficult situation to avery positive situation. But this means that
money's going to get cheaper for everybody, as far as interest rates, as
far as loans, as far asmortgages. So that's a positive, okay,
And so that's how it affects youand me on a regular basis.
That's how we're going to feel thepositive effects. Your credit cards going on

(03:00):
to the bank, and you know, what are you going to receive as
far as a mortgage. You know, it's a domino effect. The more
costly things are, it's harder forpeople to pay the bills. So as
interest rates go down or stay steady, people have the tendency to be a
little bit more I guess gleeful,happy, they're going to be able to

(03:20):
do things that they've always wanted todo. So yeah, this is positive
for the economy. Great. SoI will book my next Disney vacation immediately.
I appreciate that you listen. Ineed your advice. You gave it
to me. There's no one whocan argue with me now, so that's

(03:40):
you and Mickey, they and McKeytogether. You'll go more in depth on
this tomorrow morning on the Retirement PlanningShow on wg Y. Yeah, there's
a lot of positive things going onright now. The bond market is rallying,
the stock markets had a great week. Blue skies are ahead of us.
I think, you know, domestichere, I think, you know,
we're doing pretty good. Geopolitical,you know, we still have a

(04:03):
lot of uncertainty in the Middle East, and God bless those people, may
there be peace. Amen, ButI think things are looking a little bit
brighter, my love. All Right, that's good to know. Don't forget
Listen to David tomorrow morning. He'llget more in depth on this on the
Retirement Planning Show tomorrow morning, sevento nine on our sister station eight ten

(04:23):
and one O three one wg Yand you can always get in touch with
David five one eight five eight zeroone nine one nine just hop online,
rpgretire dot com, rpgretire dot com. David, truly, thank you so
much. That's great information. You'restarting all of our weekends off on the
right foot. I appreciate it,brother, all right, darling, God

(04:45):
bless bye bye