Hey, it's Courtney and Ryan here back with
your weekly Money Minutes. We're out
in Herald Square today it's actually a
gorgeous day for the first time. Not
too hot not freezing. Now we're
bring you these weekly videos just to
give you some common-sense advice when
it comes to your own personal investing
and financial lives. And today we want to
talk about all of this buzz out there
that were in a slowing economy and
there's even the word recession that's
throwing out a lot which can be kind of
terrifying to hear we just want to talk
to you guys about what does that really
mean and where is that coming from what
does that mean in your financial life
and is there anything you should be
doing about it. So I think a good place
to start is why don't we talk about what
is a recession? Sounds like a very
sad depressing word
like you know the economy is falling off
a cliff. And basically what that means is not
as dramatic as you think but all
recession is is growth in a certain
country and we'll talk about the US
right now for six months is negative
okay well how we measure that is called
GDP or gross domestic product and it's
as simple of saying like all the revenue
the United States has and it's measured
every three months is either going up or
going down and if it goes down for two
three-month periods in a row or two
quarters that is what you call a
recession it means a contraction and
growth
the reason this causes so much fear
right now too is the last recession that
we had is about 10 years ago in 2008 and
it's known as the Great Recession
because it was one of the larger
recessions that we've had and the
economy really felt that it was harder
to find jobs how your 401k is go down
this to hit people pretty deeply and so
they are terrified to hear this come up
again but right now we're in this period
where the economy is slowing down
meaning GDP which Ryan explained earlier
has actually been growing for 10 years
they're actually still growing just not
as fast as it was maybe a year ago
that's a completely different thing than
a recession. So we have to remember is
the media loves to make mountains
out of molehills
and right now the economic data is
actually pretty good but point is like
right now we have one of the lowest
unemployment numbers in 50 years since
the 1960s that's crazy
cost of living is going up very slowly
which is actually a very good thing when
you think about economic growth the
markets are cyclical the economy is
but in the long run they tend to be on
an upwards trend where even 2008 is a
really good example a lot of people were
very nervous but if you could have
stayed patient not sold anything and if
anything been proactive and take
advantage by buying while things were on
sale the markets are actually much
higher than they were back in 2008 and
so if you're waiting that was only a ten
year period you've already seen that
recovery happen when the markets go down
at some point they will some good things
that you guys can have already in place
when that happens is number one make
sure you have your emergency fund set up
make sure that if some sort of big
expense comes up you're not gonna be
forced to tap into your long-term assets
number two you want to make sure you
have a lot of different categories in
your investment accounts because that
way even if the US markets go down maybe
I have some other things in there that
are gonna do well and you can actually
take advantage of that and buy other
things while they're low. To wrap it up
right now don't be afraid of the
headlines you're hearing doom and gloom
you're hearing recession the economy is
in pretty good shape and I'd even argue
globally right now, believe it or not.
Even though your negative news out of
Europe and places like that, those
economies are growing too. It's a really
good time to get invested, get your plan
in place, be diversified, like Courtney
said. And if you're thinking to yourself
I need to ignore the headlines
I need a game plan based on my goals,
here's your shot to do it. We do
complimentary financial reviews every
week if you qualify. Simply email us at
MoneyMinutes@Paynecm.com
Put the headline of this video.
That's this week's Money Minutes. 
As always...
Be Bullish!
