Transcript: Hello. I’m Ken Moraif and in this week’s video, we are going to examine three items that are affecting the economy and the stock markets around the world and give you our thoughts on that, particularly with regard to retirement planning.

So, of course, the Federal Reserve told us that they believe that things are fine the way they are and they don’t need to do anything. They’re not going to raise or lower interest rates and so that was perceived very well by the markets around the world, the S&P 500 and others and then of course, we also got job numbers which tell us that in the United States we have the best jobs numbers, according to the Labor Department, since 1969. So, it’s been 50 years since we’ve seen the Labor Market as good as it is today. And then on Friday, we got news that China’s people are borrowing more money and that was perceived to be a good thing, meaning that if people are borrowing more money is because the economy is getting better and therefore, China is not as dangerous to the world economy as it was before and that was a driver of positive moves in the various markets around the world. Our view on that is, in the short run, that may be true but in the long run, our biggest fear and what we believe is going to cause the next market crash, is the global debt. And we include in that personal debt, individuals, companies and governments and almost of all of those are at record levels in various parts of the world. So, that we believe is going to be the next area that’s going to cause great concern to the global economies.

In terms of what you should do, we believe that you should remain very disciplined with regard to your diversification; make sure that you are not overly leaning towards risk because the market has done so well and you want to participate. We believe you should stick to your guns and be as disciplined in your diversification as you were before. And then the other thing, of course, is we believe it is so important that you have a protection strategy on the downside because bear markets when they come, are savage. They tend to be very fast. We saw last December, how quickly the market can drop in just short order and if you are retired or retiring soon, we believe that protecting your principle is very, very important, particularly, if you’re 5 years from retirement or 5 years in.

So if that’s you, then I encourage you to visit with one of our retirement planners or to go to one of our seminars, all of which you can find in the links that are associated with our web site. So, thank you for watching this video. I hope it finds you in great spirits and financial peace of mind. Thank you.