Lou Scatigna, The Financial Physician

In recent episodes of The Financial Physician, host Lou Scatigna, CFP has been discussing historical inflation stories. On this segment, he concluded the series by breaking down the worst case of inflation ever, which occurred in 1946 to the country of Hungary. While this was not the first time that Hungary experienced inflation issues, it was certainly the worst incidence of it. After World War II ended in 1945, the Hungarian economy was in absolute dismay. To counter the economic turmoil, the government began to flood the country with newly printed money, which in turn had disastrous results. Get A Free Copy of Lou's Book: https://thefinancialphysician.com/

Throughout history, inflation has been the result of the same patterns. Typically, a country becomes very profitable, and their economy is doing really well. People are prosperous, and the middle class is quite healthy. That usually goes on for a while until the country eventually starts deficit spending. They begin to give away items for free, whether it be stimulus payments like we did recently or chariot races and carnivals during the Roman Empire. The next step involves going into debt to borrow money, like we did with treasury bonds. Eventually, the government debt goes parabolic, which leads into a currency collapse and complete lack of confidence in that currency. Does all of this sound eerily familiar to what we are currently facing in our economy? Host Lou Scatigna, CFP® addresses our impending hyperinflation in this segment from The Financial Physician. Additionally, he discusses the parallels of our situation to the financial collapse that occurred in Zimbabwe at the start of the 2000s. Get A Free Copy of Lou's Book: https://thefinancialphysician.com/

In this episode of The Financial Physician, Lou Scatigna, CFP® discusses the Weimar Republic and how it relates to the inflation issues we are facing today in the United States. Economic laws of nature do not change, and history is doomed to repeat itself when we do not learn from the lessons it teaches us. So what happened to the Weimar Republic, and what are its parallels with the inflation problems that we are currently experiencing? Find out more in this segment from The Financial Physician. Get A Free Copy of Lou's Book: https://thefinancialphysician.com/

Much of our population was not even alive the last time we saw inflation at these current levels, which was more than 40 years ago. Over the previous 12 years, we experienced record lows in terms of interest rates, and now the interest rate hikes over the past year have resulted in dramatic ramifications to virtually everything related to our economy. Obviously, this has directly impacted inflation to an extremely high degree. So what exactly is the cause and effect of inflation? Host Lou Scatigna, CFP® explains in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

The story about the three little pigs is very similar to what is currently happening with our banking system. What exactly does that mean? Host Lou Scatigna, CFP® explains in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Last week, the government came out and said that all bank accounts in the United States will be covered, no matter how big they are. Essentially, we are being told that a $120 billion insurance plan from the FDIC can handle $122 trillion in bank deposits. Obviously, that math does not add up. The amount of inflation that is going to be created by the bailout regime that is currently in office, where nobody is allowed to fail, puts us on the direct pathway to capitalism. There is no such thing as a free lunch, so this is an obvious topic of serious concern. In this segment from The Financial Physician, host Lou Scatigna, CFP® provides guidance on how you can financially protect yourself during these troublesome times. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Financial Planning is a key component to security and long-term financial health, in addition to the well-being of you and your family. But what if your marriage turns south? If this happens, it is imperative that you get sound legal and financial advice. The problem in most marriages is that one spouse typically does not have the same amount of resources as their partner, which means they can get a more expensive lawyer or seek better financial advice. Long story short, the spouse who ultimately asks for a divorce has usually been planning the decision for some time. That essentially gives them a “home field advantage” because they have likely spoken to a lawyer and financial advisor already, and the other spouse is probably caught off-guard. No one enters a marriage expecting to get divorced. However, it is important that you are prepared for the situation in case it does occur, particularly from a financial perspective. Host Lou Scatigna, CFP® provides insight on how you can do that in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

With more than $200 billion in assets, Silicon Valley Bank was the second largest bank failure in United States history. The entire collapse of Silicon Valley Bank essentially happened in two days, and it crashed in spectacular fashion. So what exactly happened with Silicon Valley Bank, and should you be worried if you have your money in a regional bank? Host Lou Scatigna, CFP® has the details in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

As explained in our previous video, cars and homes are the two main reasons why many people have little or no net worth when they enter retirement. Our last video dove specifically into the topic of cars, and this one now addresses homes. A house is the most expensive item that we will ever buy in our lives. Buying a home is so much more than simply paying off a mortgage. An excessive amount of additional costs is associated with the transaction of purchasing and owning a home over the course of time. Needless to say, there are many things to consider when you enter the market to buy a house. In this segment from The Financial Physician, host Lou Scatigna, CFP® offers advice on how to best manage the home buying process from a financial perspective. Watch How Cars Lead to Financial Failure: https://rumble.com/v2bheq4-why-do-people-fail-financially.html Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Why do people fail financially? As a CERTIFIED FINANCIAL PLANNER™ who has been in the business for 40 years, Lou Scatigna, CFP® has narrowed it down to a pair of simple responses as to why so many people are entering retirement with little to no assets or net worth. The two things that determine your financial success are homes and cars. It really is that simple. How you manage the purchase of homes and cars dictates your financial health in life. Do these two things right, and everything else will fall into place financially. In this segment from The Financial Physician, host Lou Scatigna, CFP® speaks about the topic of cars. Learn how to buy a car the proper way and avoid mistakes that can drag you down financially. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

We work our whole lives to build up assets, contribute to retirement plans and pay into the social security system. The reason we do this is to have income in retirement. The whole idea behind retirement is to not work while still having enough money to pay bills and enjoy our golden years. So what are some ways that you can create retirement income? Listen to this segment from The Financial Physician as host Lou Scatigna, CFP® shares 12 different types of retirement income you can generate, along with how they are taxed. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

An issue that many people in their 50s or 60s are facing surrounds the aging process of their parents. The main matter at hand is their parents are going from independent to a place of dependency. As our parents continue to age and eventually pass away, there are many stressful matters that need to be managed, many of which are related to their assets and estate. That is why it is so critical that End of Life Planning is treated with absolute importance and urgency. As a Certified Financial Planner who has many seniors as part of his client base, Lou Scatigna, CFP® finds himself involved heavily with End of Life Planning, both in the clients themselves and also with their children. When it comes to End of Life Planning, people tend to make a lot of mistakes. Watch this segment from The Financial Physician to find out how you can avoid potential mishaps throughout this arduous process. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

If you follow the financial markets and economy, you know that the Federal Reserve is one of main driving forces for them both. The Federal Reserve controls interest rates and our money supply, and it quite honestly has more power than it probably should. Most people do not realize how much the Federal Reserve personally impacts them and so many elements of their lives. The Federal Reserve meets every six weeks or so, and they raised interest rates once again at their most recent meeting. How will this directly affect you and your finances? Find out from host Lou Scatigna, CFP® in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ We have officially entered Income Tax Season. All tax forms should have been provided to you by January 31st, and you now have the ability to process your 2022 returns. Do you have all of your documents in order so you can get your taxes filed? Find out from host Lou Scatigna, CFP® in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ The Federal Deposit Insurance Corporation (FDIC) is an insurance company that is funded by the banks. Assuming that the big banks do not fail, it is a system that works. However, the FDIC insurance fund is $125 billion, and that is only a small percentage of the insured deposits that are out there. The entire world banking system is tied together, and that is a problem because one big domino falling could crash the entire financial system. Long story short, no bank is on an island by itself. What happens to one financial institution happens to all of them. If a financial collapse occurred within the banking system, one of two things would happen. You would either be ‘bailed-in’ or ‘bailed out.’ What is the difference between the two? Find out that and much more from host Lou Scatigna, CFP® in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ By its own definition, the Federal Deposit Insurance Corporation (FDIC) is “an independent agency created by the Congress to maintain stability and public confidence in the nation’s financial system.” Whenever you walk into a bank, you see a plaque on the wall that says your money is insured by the FDIC. That plaque on the wall is supposed to make you confident about your money being safe, and, if that bank fails, the FDIC is going to come in and give you back all of your money (assuming you stay within FDIC limits). However, if a systemic banking crisis occurred where the entire system is failing, your money is in big trouble. So how safe is your money in banks, and what exactly does the FDIC insure? Find out from host Lou Scatigna, CFP® in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ One of the main reasons that people fail financially is due to a lack of detailed record keeping and review. Most of us go to the doctor for an annual check-up, where all of your vitals are updated and the doctor enters that information into your chart for a thorough review. Clearly, we understand how important our physical health is, but what about our financial health? We should be conducting a similar process for our financial health as we do for our physical health, but the fact of the matter is that most people are not consistently monitoring their financial wellness. If you are not keeping a close eye on your money, you are committing financial malpractice. So what are some ways that you can keep your financial health in order? Find out from host Lou Scatigna, CFP® in this segment from The Financial Physician. The money doctor is in! Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ Everything that is happening with the Biden Administration is the opposite of what is good for America, from our health and energy policies to immigration and foreign affairs. Compounding those issues is the fact that the Federal Reserve is seemingly on a mission to destroy the entire American economy. One of the major problems we are facing right now is the Federal Reserve believes they can use policies that worked in the past, but that is just not the case as we head into 2023. To put it simply, they are playing with an old playbook. So how are the decisions being made by the Federal Reserve impacting the overall American economy and your own household finances? Find out more from host Lou Scatigna, CFP® in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ The first week of the month is always a big week for economic numbers, namely the Jobs Report. People hang over this monthly report, but the truth is the announced results are rarely an accurate depiction of job growth across the country. Simply stated, the numbers are essentially made up. So what is real with the Jobs Report, and how are we supposed to interpret the numbers we are being told? Host Lou Scatigna, CFP® breaks it all down in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ Most people who own annuities never went shopping for annuities. They were sold to them. With all investment products, you must always think about who is making the money, how much money they are making and is there any conflict of interest. Whenever someone suggests an annuity to you, that is when your radar should immediately go up. Something that most people who own annuities do not know is that they pay the highest commission of any investment product, by far! This is just the tip of the iceberg when it comes to why Lou Scatigna, CFP® despises annuities. In this segment from The Financial Physician, he provides a full explanation of what annuities actually are and who benefits from them the most (aka the financial salesperson). Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ The retirement crisis in our country is only worsening. Simply put, Americans are no longer financially prepared for retirement, and we are unlikely to see improvements in that over the years to come. As life expectancy continues to rise, this is becoming an increasingly more significant issue. From a lack of savings to the decreased availability of social security and Medicare, would-be retirees are being forced to work longer due to financial instability. As expectations regarding retirement become more fluid, you are likely wondering what can be done to ensure that you enjoy your post-working life. In this segment from The Financial Physician, host Lou Scatigna, CFP® offers some insight on how to best prepare yourself for a pleasurable retirement. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ After a recent Consumer Price Index Report provided inflation numbers, which are never factual because the government can make them whatever they want them to be, the financial markets went on a buying spree. Despite inflation numbers being reported at 7.7%, Wall Street continues to be delusional with its outlook of the overall economy. Regardless of what Wall Street wants us to think, we know that our economy continues to be in dismal shape. In this segment from The Financial Physician, host Lou Scatigna, CFP® speaks the truth about what is happening and provides some insight on how to best protect your money. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ Some recent financial news has been significantly affecting the markets, along with most consumer’s pockets. First of all, the Federal Reserve raised interest rates again in the face of a cratering economy, and the second is related to the most recent jobs report. In this segment from The Financial Physician, host Lou Scatigna, CFP® speaks in detail about both items and the direct effect they are likely having on your financial well-being. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ Any economic numbers that we receive between now and Election Day cannot be trusted. We recently got the latest numbers from the GDP (Gross Domestic Product), which is the sum of all economic activities in the United States. The first two quarters were negative, and the definition of a Recession is two negative quarters in a row. However, this Administration insists on changing that definition to fit their narrative. All indications were that we just underwent a third consecutive negative quarter, but now we have been told that the GDP allegedly rose 2.6% in the third quarter. Clearly, the economy has not been improving, which makes this recent announcement fairly comical. So what is the truth regarding the current status of our economy? Host Lou Scatigna, CFP® talks about that and much more in this segment from The Financial Physician. Get A Free Copy of Lou’s Book: https://thefinancialphysician.com/

Learn more: https://thefinancialphysician.com/ We recently passed the 35th anniversary of Black Monday on October 19th, which was the great stock market crash of 1987. Lou Scatigna, CFP® had been in the industry for four years at the time and was launching his own financial firm called AFM Investments with his business partner, Martin Saltzman. Having personally experienced the worst one-day crash in US Stock Market history, Lou can provide some incredibly unique insight about the events surrounding Black Monday. In this segment from The Financial Physician, Lou discusses what led up to Black Monday, what happened during the crash, and whether or not it can happen again. He also addresses what changes were made to the US Stock Market as a result of the crash. Get A Free Copy of Lou's Book: https://thefinancialphysician.com/