Since President Obama's State of the Union Address Tuesday night, there have been a lot of articles dissecting his remarks and picking his proposals apart. As you might suspect, the vast majority have been politically charged by one side of the aisle or the other.
As Chief Investment Strategist for Money Map Press, I can't afford the luxury of taking sides. It's my job to help the hundreds of thousands of investors who are part of our family with their money...politics aside.
If you're with me, then I've got five bullet points - key takeaways really - from the president's speech that can help you grow your money this year and for the remainder of President Obama's second term.
Obama's State of the Union Address Was Short on Math
President Obama's State of the Union Address on Wednesday night was high on rhetoric but short on math.
As with most Obama speeches, it was beautifully delivered. However, even where I agreed with the ideas, I couldn't quell a nagging suspicion that the numbers simply didn't add up, and indeed likely missed by a lot.
And let's face it, some of the ideas in the speech were just plain bad.
The Bad Ideas
At the top of the list was the proposed increase in the minimum wage to $9 an hour. It's sounds nice, but reality is a different story.
Economists pretty much universally agree that high minimum wages have the opposite effect: They increase the ranks of the unemployed.