What's up! It's episode 78 of Payne Points of Wealth and markets have sparked a huge rebound over the course of the last couple of weeks. Ending the quarter, just down a little bit for the year. So what's the deal? Is this just a dead cat bounce? Markets are ready to fall off a cliff, we're going into recession because of high inflation, or is this beginning of a huge booming bull market as the economy chugs along? We're going to give you our thoughts on that, our viewpoint on where things are going today. And on the tipping point, we're going to talk about all those false notions that you have when it comes to your financial independence plan that you need to eradicate from your brain to make sure that you can be financially free.

• Dead cat bounce? [1:09]

What is the market going to do with the federal reserve raising interest rates? We're already starting to see some inversions in rates in that shorter-term rates are higher than longer-term rates. Every headline this week says that's a precursor to a recession. 

It's a bunch of BS. It's a terrible indicator because there have been so many times that the curve was inverted and we didn't go into recession. But economists and the talking heads on TV love to talk about this. The other part you have to think about is that the government has manipulated the curve. They have this 900 trillion dollar balance sheet where they bought all these long-term bonds, which is keeping rates artificially low. Now it's getting a little wonky, but the point is, it's a BS indicator. They always roll it out every couple of years and it doesn't necessarily mean we're going into recession. In fact, it's been disproven over and over again many times. 

Clients have a lot of big misconceptions or beliefs when it comes to what it means to be financially independent. Things like how much money you should have or you know what it should look like to be financially independent. We thought we could talk about some of those false beliefs that you have that are dangerous and are probably ruining your financial life. 

It's as dangerous when you build a house without a foundation as it is to build a financial plan without a foundation of a plan. If you're just sitting there arbitrarily coming up with some number, the goal post will keep moving. Check out the Tipping Point segment in this episode to hear about the false beliefs we have come across over the years. 

• Southeast Asia is ditching pandemic restrictions at last! Promising an economic rebound for 650 million or so citizens. There are opportunities in Southeast Asia right now.

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