On this episode:

As of yesterday, the Federal Reserve announced a larger-than-expected interest rate cut of 50 basis points, surprising many who anticipated a smaller 25-point reduction. Scott has had several clients reach out to him about this unexpected move. So in today’s episode, we’ll talk about the implications of this decision, especially for those nearing retirement or facing major financial decisions.

Marc and Scott explain that the Fed’s choice could be an effort to stabilize the economy ahead of the election or a response to more favorable data on inflation and employment. While Scott acknowledges that lower mortgage and credit card rates could provide some relief, he also reminds listeners that the effects won’t be immediate. More importantly, he urges them to stay committed to their long-term financial goals, instead of reacting to short-term shifts in the economy.

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Here’s some of what we discuss in this episode:

0:00 – Intro

2:14 – Chatting with David Walker

4:14 – What do interest rates mean to the public?

7:04 – Maintaining a sound economic plan

9:20 – Rate cut impact on the market

12:14 – Final thoughts

Resources:

Schedule A Call with Scott

Scott’s Book, A Pilot’s Guide To Maximizing Wealth & Cashflow In Retirement

The Pilot’s Planner Website