What does the war in Israel have to do with your personal finances? Hey, it's Jon from Financial MD, welcome to today's didactic minute.
I know you've been seeing this in the news. We are all aware of what's been going on and the tragedy that's happening over in Israel and Gaza and there are a lot of sides being taken on this. Whatever is right or wrong is not for us to discuss here in this video, but I am going to discuss what makes Financial MD Financial MD and that is how does this pertains to your personal finances. Because at the end of the day, there is going to be some way that this war can touch nearly everybody in the world – at least everybody who is involved in some area of the economy and that's how it affects us. So for those of us who are investing in a 401(k), have a Roth IRA, buying stuff at the store – that's everybody watching this video right now, I'm sure – have some sort of exposure to those things and that's where this war in Israel can touch your personal finances and you need to be aware of that. So when you see the stock market going up and down, that's one direct correlation that can be drawn to how the economy and finances and analysts, and basically, the country financially sees the future of the global markets. That's going to have an impact. There's things that rely on that economy in Israel and in Gaza. Not a huge thing; not as though China was going to war, although that's certainly a possibility and that's what can affect the markets as well. Because those that are buying and selling the stocks – not you and I as everyday investors; but the big ones – the institutions, the fund managers – they see the long-term effects of this war and it's not just Israel and Gaza or Jews and Muslims. But a lot of analysts and economists can see the possibility that this could draw China into Taiwan or this could do all sorts of things like that, and if that happens, a lot of our economy does rely on China, does rely on India, relies on other countries that are using our goods or we're using their goods that then affects stock prices, affects the S&P 500 Index, the Dow Jones, the Nasdaq – all of those things are going to be affected which then in turn is going to affect your Roth IRA, your 401(k), prices on cars, prices on food – all of these things, it could impact our inflation, good or bad. We don't know those things. So I just want you to be aware as you're thinking through this war in Israel – how does this impact me? When you're asking this question, from a personal finance standpoint, it can. So when you think, see things go up and down; yes, markets are related to those companies internally and how those are doing, but a lot of that is impacted by geopolitical events and, namely, the war in Israel. So, keep an eye on that. Comment below if you've got questions. To be more specific, you know how to reach out to us. Make sure you share this video with another colleague because we're just trying to get physicians a little smarter on making financial decisions.
This is Jon from Financial MD, we'll see you next time.