We talk through what the stimulus package includes, what it means, and where we’re headed on today’s episode. Then, Don answers a question from the mailbag about refinancing.
Click play to listen to the episode…
Spring is here! Now that we’re getting caught up after resetting our clocks, what else do we need to catch up on? What’s the latest in the news?
To start, a $1.9 trillion stimulus package just passed. Who gets a stimulus check? How will this impact the economy? What will this package provide and where does it have holes? Don talks about who is benefitting most and who might end up paying for the bill in the future.
Are we facing inflation in the future? We used to have much higher interest rates when it comes to CD rates or interest rates. Given the technology, the labor force efficiency, and global supply chain today, Don doesn’t see the same rate of inflation as in the past but prices will likely increase. Some trends last for several years, but we don’t want to make bets and try to time the market.
For our Cash Connection, Robert from Neptune, NJ is wondering if it’s too late to refinance his mortgage. Since the rates are a little higher now, did he miss the boat? Like many financial decisions, choosing to refinance depends on a number of variables. Consider your circumstances–your current rate, your time horizon, your goals, and the costs it would require.
Lastly, while it is a ways off, where would Don like to retire some day? Stay put or move? Or a little bit of both? Where would you go?
Listen to the entire episode or click on the timestamps below to skip ahead to a particular segment.
0:25 – What’s going on this week as we enter into spring?
3:04 – $1.9 trillion stimulus package was passed.
11:02 – Are we headed toward inflation?
13:32 – Mailbag: Is it too late to refinance?
15:31 – What did Don look at when he refinanced?
21:39 – Where would Don like to retire?
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Donald W. Cash – CPA, CFP® is an independent advisor. Don began his career in 1985 as an accountant after graduating Rutgers University. In 1990 he entered the field of Estate Planning with a concentration in 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. He advocates a holistic approach to Estate and Financial Planning as has relationships with other professionals including Attorneys, CPA’s, Mortgage Specialists, Insurance Specialists and Asset Managers. Don is married to Cathy and have 4 children, Carly, DJ, Nick and Tori. They live in Freehold, NJ.