Anastasia Wiese, Financial Advisor at Grand Wealth Management, enjoys counseling her clients by providing custom tailored financial services. West Michigan Woman asked her to share her predictions on what our community could expect in the coming year.
What can West Michigan women look forward to in terms of economic outlook?
While no one has a crystal ball to help predict the future, understanding where we are now helps to bring comfort on what to expect moving forward. Most economists agree that the U.S. economic fundamentals are strong, yet somewhat of a mixed bag. For example: Unemployment is near 50-year lows, wages are increasing, and consumer spending is strong, which are all great current economic indicators. However, the yield curve inverted this year, which may be viewed a negative economic indicator. Given this information—barring any shocks to the economy—it is reasonable to believe the U.S. economy is likely to continue on its slow growth path.
One thing to keep in mind is that interest rates are currently very low. So now is a great time for West Michigan women to review their loans—such as a mortgage—and talk with their financial advisor and mortgage expert to see if refinancing makes sense for their circumstances.
What area of growth and development will be most challenging?
The largest uncertainty affecting economic stability right now is the U.S. trade tension with China. This is a highly complex issue that has far-reaching consequences and impacts beyond simply the U.S. and Chinese economies. Until this issue is resolved or reaches some stability, U.S. investors should continue to expect to see some level of U.S. market volatility.
What area of growth and development will be most rewarding?
I believe that personal growth is likely to be the best opportunity and most rewarding. Right now, and specifically in West Michigan, there is an employee shortage. It is a great time for women to explore advancement in their careers or a career change or reenter the workforce. Grand Rapids continues to attract companies ranging from large national and international companies as well as smaller organizations who are trying to keep up with their staffing needs as they grow. Now is a great time to be open-minded and evaluate what you want your future to look like.
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Written by Jennifer A. Pascua, Digital Content Strategy Manager for West Michigan Woman.
This article originally appeared in the December/January 2019 issue of West Michigan Woman.