Coming Economic Storms and Media Mania

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We are wrapping up our series on economic storms this week by focusing on the media. Between constant headlines and breaking news, there can be a lot of news to sift through. So, what should we expect from the media throughout 2022?

Financial news and media can be relentless. Usually, there’s some sort of “Breaking News” that inevitably scares people into making questionable financial decisions. The media exists a lot differently than it did 30 or 40 years ago when we watched Walter Cronkite and Dan Rather on the 6 o’clock news. 

A lot of us can get lost in a sea of information and news that can be overwhelming. On today’s episode, we’ll help you navigate some of these economic news storms and explore how we can prepare ourselves and our plan for the future.

The media does not exist simply to provide you with useful information, they want clicks and reads and ultimately RATINGS.

Inflammatory headlines are how they get views. Opinions pieces are becoming more and more common, not necessarily fact-based and non-biased stories.

Information you get from the media is not necessarily tailored to fit your life. That’s where your advisor comes in. It’s important to stay informed on economic news. However, the important question is what action are you going to take?

You shouldn’t be making emotional decisions off of headlines that could really impact your retirement plan. 

If you have any questions for Don reach out at (732) 784-2867 or don@doncash.com.

Screen Time –

https://www.comparitech.com/tv-streaming/screen-time-statistics/#:~:text=The%20average%20American%20spends%20over,at%20a%20screen%20every%20day.

The Social Dilemma –

https://www.thesocialdilemma.com/

The Reticular Activating System –

https://www.sciencedirect.com/topics/veterinary-science-and-veterinary-medicine/reticular-activating-system#:~:text=The%20reticular%20activating%20system%20(RAS,awake%2C%20desynchronized%20cortical%20EEG%20patterns.

Listen to the full episode to learn more or skip around to certain topics.

[0:42] – Snowstorm!

[2:41] – Financial news

[4:18] – How big media works

[6:29] – Getting you addicted

[8:21] – Collecting your information

[10:15] – Goal to get people watching

[11:43] – What do you get from the media?

[13:13] – What actions are you going to take?

[14:54] – Using keywords to get views

[16:47] – Inflation is a real concern

[18:24] – How do we deal with it?

[20:18] – Don’t act on greed, fear, or anxiety

 

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ABOUT YOUR HOST...

Donald W. Cash – CPA, CFP®, is an independent advisor. After graduating from Rutgers University, he began his career in 1985 as an accountant. In 1990, he entered the field of Estate Planning, concentrating on long-term care planning. Don has been advising clients in the baby boomer and retirement market for 20 years. He has helped over 1,000 families with their planning needs.

Don advocates for a holistic approach to Estate and Financial Planning and has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers.

He is married to Cathy and they have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.

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WAYS TO CONTACT

(732) 784-2867

don@donaldcash.com

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