Originally posted October 27, 2022.
OK, what’s Your Survival Guy’s number one recommendation in times like these–when inflation is running hot and interest rates are going up? Well, it’s this: Don’t believe the hype.
Inflation isn’t anything new, and interest rates need to be higher. But don’t bank on recommendations to play the market. That these two I’s are going higher is baked into the cake. That doesn’t mean they’ll be higher a year from now.
You know Your Survival Guy doesn’t like playing the prediction game, especially when it’s hard enough to understand what’s really going on today and why. The why is always the juicy one because it’s so misleading. Short term predictions are cheap. It’s why I want you to think outside of the box and not follow the crowd. Go against the street. Become a compounding machine.
What’s the street recommending? This: Keep your low-rate mortgage and let inflation help pay it off. Garbage. My number one recommendation is to do the exact opposite. I’m Your Survival Guy, not “Mr. Roll the Dice,” and see how this plays out for one and all. I like the peace of mind of living debt free and owning my house. I’d like the same for you. Believe me, it feels good.
Action Line: When so-called experts begin their sentences with “The right play today is….” I want you to consider going the other way. This isn’t a game. It’s your life. Stick with me. It’s time to be a contrarian.
Originally posted on Your Survival Guy.