Confidence is an important word. It’s a big word. Confidence alone dictates many behaviors of people and industry. So, what about the confidence that people have today? —
2012 was a significant year for confidence (or lack of). The 2012 phenomenon idea spurred discussions and articles on large media outlets; movies were made about the pending catastrophe, and the topic was even discussed at dinner parties.
2008 was a brutal year for confidence (actually, the economy got sucker punched). Unlike the ‘2012’ theory, where depending on individual belief you could take the idea or leave it. In 2008 our trust in the economy was like a rug, dramatically ripped out from under us. We couldn’t help but distrust after an event like that.
2014 has been another…it’s hard to say. Gallup’s U.S. Economic Confidence Index rated at a -9 today. This weekly aggregate bases results on how Americans currently view economic conditions and if they believe things are getting better or worse. Considering where the poll was last month (-17) things are looking up. Did the increase of hope come with knowing that Quantitative Easing was coming to an end? President Obama did state that unemployment is at its lowest since 2008. (whitehouse.gov)
A Way to Recovery
Keeping up your personal financial confidence is essential to weathering any troubled economic climate. Of course immediate buffering can be cutting back on spending habits, or saving an ‘emergency fund’ to help with future challenges.
Another very good recovery strategy is owning Life Insurance. Whole Life Insurance is a way to insulate your money from the economy, market and even unexpected expenses that can arise for you personally. Life Insurance gets underrated because people associate the product with high premiums, but fail to recognize the account as a conservative way to guard your money from taxes, fees, and inflation. —
2015 is the year for confidence. With ample education available through books, blogs and articles about Life Insurance, you can understand the value of this powerful asset.