Scott Inman of GenWealth Financial Advisors joins Yahoo Finance Live to discuss whether the Federal Reserve has decided to cut interest rates or not as economic forecasts change ahead of Friday’s jobs report and investors Discuss why you should not rely entirely on economic forecasts.
Inman acknowledged that economic forecasting “has some value.” However, he notes that basing investment strategies solely on forecasts is a “fool’s errand” because forecasts are often inaccurate. He advises investors to adopt a long-term strategy, suggesting “10 years or more.” Inman warns that “drastic changes” in investment strategies based on short-term predictions can lead investors to “do the wrong thing at the wrong time, for the wrong reasons.”
of Get ready for future shows “Qe as a human being wants to be able to control our future,” Host said, noting that investors often make decisions driven by emotion. But while market fluctuations evoke emotions that influence decision-making, he recognizes that investors cannot truly control the future. This is why he recommends working with a financial advisor to navigate market trends.
For more expert insights and the latest market trends, click here to watch the full episode of Wealth.
Editor’s note: This article was written by angel smith
