Is this a “good” or “bad” economy?
It’s like one of those inkblot tests psychologists give patients to learn about their state of mind.
When folks in the “bad” camp look at the economy, they see high inflation… rising interest rates… and collapsing banks.
Folks in the “good” camp see record-low unemployment.
And they’re both right to a degree…
To say the economy is good and bad at the same time isn’t a neat answer. But it’s the reality of the situation.
That means it’s more important now than ever that you play offense and defense in your portfolio.
So today we’ll look at why this is so critical. Then we’ll go over the necessary steps for you to apply this to your own wealth-building plan.
Diversification Is Key to Your Portfolio Performance
When you’re diversified, you have eggs in different baskets…
You don’t have all your money in only stocks… cash… bonds… real estate… gold… or crypto.
Instead, you make sure you own a mix of these different asset classes. (That’s Wall Street speak for a group of investments with similar characteristics.)