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I recently attended the Financial Planning Association quarterly meeting and Dr. Esmael Adibi, Director of Economic Research for Chapman University, presented Chapman’s annual forecast. Dr. Adibi has been a regular consultant to California’s governors over the years; although he is quick to point out that they never take his advice regarding needed changes!
Some of the key statistics that he shared were:
What does this mean? The economy continues to grow slowly, but could be doing better. Let’s remember two things. First, the economy is never a smooth ride. There are periods of growth and decline, some periods experiencing changes larger than others. Next, we can only control our actions. I continue to urge you to focus on preparing a solid foundation to withstand negative changes in the economy, investments and unexpected events. A few ways to do this is by identifying and prioritizing your goals; knowing where and how much you spend (budget); and saving so you don’t become dependent on others nor are forced to make decisions you normally wouldn’t.
Please call me to discuss any financial issues. Additionally, please forward this email to anybody that would enjoy reading it or might benefit by speaking with me about their financial questions or goals.