Today I had a conversation with a New York client and I had to explain to him that just because he has the financial reserves (savings) that does not mean that he should be buying everything simply because he can afford it.
I explained to him that 2023 is going to make or break a lot of people. And if he wants to remain in the position he is in 5 years from now he is going to have make even smarter moves with his money.
Things have changed and nothing is going back to the way it was. It’s about pivoting for survival and leaders in business (and government) know this.
Las Vegas was known as a cheap place for entertainment and retirement. It’s not inexpensive anymore. 1. There is no rent control. 2. Every major sports league is about to have a team here. Two very important factors to consider.
If you live here, you are going to have to be very creative to be successful. If you are considering moving here, you are going to need a decent income to thrive.
There seems to be an illusion around what is happening in the economy. For various reasons many are quitting their jobs (the great resignation) with ambitions of becoming an entrepreneur or starting work in the gig field.
Consumers are spending less money and companies have started layoffs. Two signs that you have be very wise with your financial decisions.