On June 17th, 2022 Terry Sawchuk sat down with Steve Gruber to discuss why the stock market is down $9 trillion.
After reading about the stock market headline on the 17th, here is what Terry has to say “The stock market is down close to $9 trillion, $3 trillion in retirement accounts, which is more than the ’08/’09 downturn, but we started at a higher place then back then. People should be nervous, if you got on the wrong side of the trade, it may take you 10 years to break even, so yes, the market comes back but it may take years.” Sawchuk thinks it is important to use unemotional systems to invest and to avoid loss in the first place.
Sawchuk also added that “We are going through a massive secular shift away from a 40-year bullish market. Ukraine/Russia could be more about the US Dollar than Russia, and in the next five years the US will be “re-onshoring” the manufacturing of everything.”
When asked what will kids now expect in the next 5-10 years, Terry responded “the things I’ve read about what we can expect, they are working on right now a box you walk into as a 100-year-old, and you will walk out as a 60-year-old. Dana Farber Cancer research facility just had the first study of 100% cure ratio on colon cancer, people are going to be living longer so they will need money longer.”
From an investment standpoint, “I hate the word “retirement,” but what we do with our client’s is we look at their life and goals and give them financial independence, give them the ability to stop trading their time for money. This is not an investment recommendation, but Biotech is an important industry that, long-term, will help change the world.” Caution is appropriate as politicians can wreck industries with bad regulation.”
Last word from Sawchuk he says that there is a lot of risk in the markets and nothing wrong with cash.
Click here to watch Part 1 and here to watch Part 2.
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.