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.
Sawchuk Wealth Founder and CEO Terry Sawchuk recently appeared on the Steve Gruber Show where he discussed the ways in which the growth of our federal government impacts us as investors and taxpayers. Unlike most businesses, which had to carefully watch the bottom line throughout the pandemic, the number of federal employees continued to expand and now accounts for approximately 6% of the U.S. workforce.
“If you have such a mass federal government in terms of the employees they have, etc., you’re sucking resources out of the private sector,” says Sawchuk. He explained that during downturns like Covid, the government had no incentive to shrink its size, while everyone else had to endure sizeable setbacks.
The impacts of government overreach on investors can become even more apparent during times of economic downturn. For example, unlike investors who struggle during these times, the government has the option to maintain revenues by raising taxes. As a result, it is important for investors to have the right financial advisor by their side so they can be prepared for whatever the future may hold.
If you have any questions or comments, please do not hesitate to contact us at (248) 269-9700.
Click here to watch the entire segment.
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.
