Some growth to report and what you should do about it!

We have first estimate for Q3 real (net of inflation) GDP growth. 
2.0% at an annual rate, slightly higher than the 1.8% expected. 
I guess that's good. 

Real GDP is up 2.3% from a year ago.
Nominal GDP, which is real GDP plus inflation however rose at a 5.0% rate in Q3 and is up 4.0% from a year ago. 
It seems personal consumption, followed by government purchases were the major factors in this "growth". 

A few things have slowed the pace of growth in Q3.  
Net exports, commercial construction and inventories.
Real GDP continues to grow at a modest annual rate and is not close to either strong growth or recession.

The Technical stuff: Real “private” GDP (real GDP excluding government purchases) grew at a slower 1.6% rate in Q3, but is up 3% from a year ago. Real final sales (real GDP excluding inventories) was up at a 2.1%
annual rate in Q3 and is up 1.9% from a year ago.
The real GDP growth remains very close to 2%. This trend continued in Q3. 

It seems to me that getting the economy to grow faster will require some changes to government fiscal and regulatory policies, not more monetary policy. 
If we get a new Chair at the Federal Reserve interest rates could head higher sooner than predicted by the current Fed chairman (mid 2015) if a successor takes a more restrictive approach to monetary policy.

The Fed said household spending (consumption) advanced a bit more quickly and inflation had recently picked up somewhat, reflecting higher energy prices. My view is that we should be concerned about future inflation. Generally these things can be a good signal for equities in the long term, but this is only speculation on my behalf. That said, many feel that the modest increase in Social Security does not start to cover increased cost of living associated with the higher cost of energy etc.. mentioned before.

What to do:
When planning for the effects of inflation on your lifestyle, I still feel strongly that those who are retired or approaching retirement must make certain they have a good plan for future income and should incorporate safe secure products as part of a complete retirement plan. These products are offered by a number of insurance carriers. When it comes to guarantees and no exposure to stock market risk they are hard to beat.

In addition to principle guarantee, these products have the ability to generate returns that linked (in part) to an external index without having your money invested in the stock market. 
Some also provide a guaranteed growth factor for future income as well as guaranteed income for life. The income can be based on a single life or two spouses.  
This is a must when planning for replacement income for a surviving spouse, since parts of a pension and a Social Security check will be lost when a spouse passes away. 

Remember every product is different and every person's
suitability requirements are different, so always consult an advisor before doing anything.

Also another thing to remember is that almost all advisors assisting those who are still working, make it their mission to bring you to retirement and do a good job getting you to the "promised Land", but make the same mistake after you retire.  
They make assumptions and projections of income VS. providing you a concrete plan with income guarantees.
Some may never have a plan designed specifically for you and leave you like a ship without a rudder.

Can't blame them though. That's how they keep making commissions and collecting fees. When you thing about it, is your current advisor the one you need at retirement?

As always, the thing to do is consult a specialist. Preferably an advisor who specializes in retirement planning, asset preservation and guaranteed lifetime income VS. IFCOME generation during retirement.

The views expressed are mine only and not intended to promote the sale or purchase of any financial or insurance product. 

Any comments regarding safe and secure investments, and guaranteed income streams refer only to fixed insurance products. They do not refer, in any way to securities or investment advisory products.Fixed Insurance and Annuity product guarantees are subject to the claims‐paying ability of the issuing company and are not offered by Global Financial Private Capital.