Terry Sawchuk and Miranda Khan discussed what managing looks like with the current global banking crisis. “I think it’s safety first. So, if you think your job might be at risk, then this is an important time to tighten the belt, get rid of reoccurring monthly expenses that maybe you don’t need, make sure you’ve got a good cash reserve built up in case you’re in a position where you’re in between jobs. I mean, on our end (at Sawchuk Wealth), we don’t have any money in the stock market right now. I think the stock market carries a tremendous amount of risk. And so we’re mostly in treasuries and a little bit of gold, a little bit of us dollar, but, things that we think will hold up as we roll into this next phase because the next phase is where the earnings recession kicks in and the impact of all these rate hikes start to materially affect the economy. The money supply shrinks and credit tightens, liquidity is also going to tighten and it’s going to be hard to get along.” Watch to listen to more of what Terry thinks.
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Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.