Chuck Price, owner of Price Financial Group Wealth Management, knows that passive management equals disastrous results in today’s financial climate. With consistent market volatility, and more trouble looming ahead, Price adheres to a strictly active management approach.

“Our average client is 75, and they don’t want to lose money,” Price said, adding that there’s a new element of instant and constant access to news that also affects wealth management now.
Price, who started in the industry in 1969, predicts another major down cycle is yet to come in the form of a full-scale world recession. “I think China’s going to collapse, and when that happens, Germany is in deep trouble. Now with taking in over 500,000 immigrants, I don’t know how they are possibly going to handle that,” he explained.

“The good news is that when we have a world recession, people will flock to America and bring their money to America,” Price said, adding, “But America is going to have to solve their debt crisis. If we don’t solve it pretty soon, it will be too late.”

Price noted that with each of the major dips since 2000, the market has taken nearly 6 years to recover. He predicts the next one will take longer and plans to make the most of it.  
“Nobody can time the market,” Price cautioned, “but what you can do is look at what’s going on in the world and in the economy, make intelligent decisions for managing money, and put yourself in a conservative position to take advantage of it.”

“We feel we are set up to take advantage of the next decline in the market and really make some nice gains once that happens. Cash is truly going to be king this next time around. We think real estate is going to drop back to 2000 prices, and we think the stock market is going to decline a lot.”

Price, also known as the Financial Doctor, hosts a long-running weekly radio program where he shares his expertise with callers in an open call format. Leading the fight to expose unethical financial management, he emphasized, “We are trying to educate the public and give them valuable information.”

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