Created: January 8, 2021
Modified: December 13, 2022

Podcast Episode 182: What We’re Optimistic & Pessimistic About for 2021

What You’ll Learn:
As we kick off a new year on the podcast, let’s take a big picture look at 2021 and find out what Joel feels are the biggest challenges to the economy and what he’s most excited about for this year. We’ll also run through a handful of investment ideas to determine whether they might be a good idea or a bad idea.

We’ve finally put 2020 in the rear view mirror and it’s time to get a fresh start to the new year. There’s plenty of things to be excited about in 2021 even with a number of challenges still facing our country.

So let’s step back a little and take a big picture look at what’s might be in store for the year. That’s what we’ll dive into on this episode of Money Wisdom as we get Joel’s perspective on what he’s both optimistic and pessimistic about currently.

The challenges heading into 2021 begin with the businesses that have closed due to the pandemic. In many cases it was no fault of their own, but those people and those families will now be looking for work this year. It’s going to be an uphill climb for those individuals and those communities that have been impacted.

The other concern Joel has this year is for those people that are finishing school. So many young people had jobs lined up that have since been pulled. How will they respond to that? Will they lose hope and have a dire outlook on their future because of this? That’s something to keep an eye on and assist with.

When you talk about optimism, you have to start with the vaccine. Many people scoffed at the idea that a vaccine could be produced before the end of 2020, but it’s amazing what has been accomplished. Now there are multiple vaccine out in the public that give us hope for the future of our country and the world. The confidence and the can-do attitude that will develop from this is something to be exciting about.

The other area to be optimistic about is the reshaping of our economy with the new ways we operate businesses. With the new workflows and technology innovations, so many businesses have been revamped and will continue to do so moving forward. Overall, we believe the unique changes will improve life for Americans.

This show will have a holiday spin as we look at some popular investments ideas that could make great gift ideas. We’ll present Joel with each investment option and he’ll tell us whether it’s something you give to a person who has been naughty or nice this year.

Here’s a list of products we’ll discuss:

  • Apple and Tesla stock
  • High-Yield Bonds
  • Whole Life Insurance
  • S&P 500 Index ETF
  • Indexed Annuities

Each of these could have a place in your portfolio – or not – but Joel will tell us what his general opinion is for all of these.


So many employees have been impacted over the past year as businesses have struggled, and we got a question recently from a listener who got laid off in 2020 and is weighing their options. At the age of 53, they aren’t excited about looking for another job in the corporate world so they are considering a move to real estate. Getting a license will not only take time but also require them to take money out of the IRA early in order to cover costs until work gets going.

It’s hard to truly say but it appears that options are limited at this point. Normally we wouldn’t recommend that path for funding a career change, but times are different right now. The corporate world has changed quite a bit over the past year and this might be the best path. Your best bet would be to sit down with an advisor who can look through your entire situation. It might not be a big deal to take some money out to invest in your future, but you also want to make sure you don’t destroy your retirement with something that isn’t guaranteed to work.

Set up a meeting with us and get your complimentary Money Map review and we’d be happy to sit down and help you make that decision.

0:47 – Remember why we do this show

2:05 – What we’re pessimistic about going into 2021

3:54 – What we’re optimistic about in 2021

6:40 – 41 years ago the first government bailout occurred

9:16 – Joel tells a story about a man that turned around companies

11:52 Start the year with a Money Map review

14:34 – Financial stocking stuffers: Apple stock

15:17 – Financial stocking stuffers: high-yield bonds

15:46 – Financial stocking stuffers: Tesla stock

17:07 – Financial stocking stuffers: Whole life insurance policy

18:09 – Financial stocking stuffers: S&P 500 Index ETF

19:43 – Financial stocking stuffers: Indexed Annuity

21:00 – Mailbag Question: I was laid off from my corporate job and I’m not that excited to find something else in the corporate world at the age of 53. I’m interested in real estate so I’m considering getting my license and becoming a realtor. This would probably require me to take some early withdrawals from my IRA. Is this a dumb idea?

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