The world, economy, and markets are constantly evolving. Now over the next decade, after the pandemic and with mounting geopolitical issues, it will change more than many investors can imagine. The Steve Gruber Show spoke with Terry Sawchuk, founder, and chairman of Sawchuk Wealth, to learn more.
“I think technology has the ability to make our lives awesome. But unfortunately, right now, what we are dealing with is a little bit different,” says Sawchuk. “I believe now, going back to 2020, the world changed forever and it’s never going back to the way it was.”
One specific area Sawchuk believes will change is the level of control the government has over investors’ capital, potentially by creating government-backed cryptocurrencies.
“I think they want that type of control. It’s really hard to move billions of dollars of cash but it’s not that hard if you control the digital aspect of it,” he explains. “It gives them not only the ability to monitor people but also gives them the ability to control behavior.”
It’s not only the government that has the potential to control investors but companies as well.
“Believe it or not, the popularity of index funds has given companies like BlackRock and Vanguard power you cannot imagine because every employee that is in a 401(k) plan basically is told that they should put their money inside an index fund,” says Sawchuk.
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.