The economy is in good shape, according to Bill Van Sant, Senior Vice President and Director of Wealth Management at Univest Investments.
Van Sant says, the indicators show growth in the economy from an employment picture that’s nearly at 4.1 percent to low inflation.
“We are seeing consumer confidence is high, small business confidence is high. What you’re seeing happen is that wealth effect. People are getting 401k statements. The retirement assets more than 15 years ago were 10 trillion, now they are 23 trillion. People are feeling wealthier because they’re seeing statement improve, they’re happier and you see is that they’ll spend more.”
Van Sant adds, people have learned from a past financial disaster that drained portfolios.
“What 2005 taught a lot of folks, especially children of individuals that went through it, parents and grandparents, is be a little more financially disciplined with spending habits and we’re seeing that which is a good thing.”
Van Sant was a guest on WNPV’s Comment Please By Univest Wednesday afternoon.