It seems that every day brings another story about rising unemployment, massive layoffs and more business failures. Not surprisingly, when the economic news is this bleak, it doesn’t just affect those who are out of work. The aftermath of this financial crisis has the potential to be an equal opportunity destroyer, just like the recent Hurricane Ike. Everyone is in its path and the key to survival is planning ahead.
Here are a list of topics we will be examining over the next few weeks that can be included in your personal survival kit. Like the all important flashlight, it will shed light and help keep you out of the dark.:
The recent volatility in the market is unsettling for everyone, but the repercussions for retirees and those who are close to retirement are much more dire because of the obvious time constraints. If you are in your sixties are older, you are likely facing some difficult financial decisions going forward, but panicking or taking extreme measures is not the solution. Here are three simple planning ideas that can make a big difference…
Not only is it possible to retire in a Bear Market but its possible to guarantee that your investment will NOT lose value despite what may or may not occur in the stock market the credit market regardless of Inflation or which way interest rates go.
In addition one has the opportunity to participate in the growth of say the S&P or another similar index.
When you ask the man on the street about the most memorable time in history he lived through, you would expect an answer like the tragedy on 9/11/2001. Perhaps their second most memorable will be the economic collapse we are witnessing.
For Wall Street, the unprecedented events in the financial world this week have put in perspective by a hardened world. The news over these last few weeks has reshaped the financial services industry forever. Major firms like Lehman Brothers went bankrupt while others like Fannie Mae,Freddie Mac and AIG wound up in government hands. While huge banks like WAMU were merged into stronger banks like JP MORGAN CHASE. Whose left?
This week congress is expected to again revise a bill to help bail out and re-capitalize our financial system. Newspapers throughout the world report of similar collapses of foreign banks.
While these events could sink our economic system I am hopeful it will instill in all of us the great survival we all witness during the 9/11 tragedy. The best and the brightest will emerge with new ideas and solutions will come.
This is the beginning of a long process of recovery but, each day many of these revelations have been swiftly handled with the result stronger bonds that will be harder to break the next time.
We will follow these events closely and comment further over the next few months. Keep in touch and let us know whats on your mind.
It’s time to make a decision as election time is here and near. If you’re like me, the last eight years have caused you a few sleepless nights or perhaps many. Now my recent concerns for my financial planning clients have reached high alert as banks and financial institutions have begun to erode. Not good by any means. Each of us have our own list, health care tax reform the budget deficit a slowing real estate market or even just the survival question of getting a job. This election to me must be about more than a great speech or a catchy one liner it must be carefully drafted answers to these seemingly overshadowing problems.
In today’s volatile investment climate, which you may have noticed, an Immediate annuity may be an excellent investment vehicle for the individual who wants to assume absolutely no market risk yet be provided with a guaranteed income for the rest of their lives. With the assurance that it will be significantly higher than what could be earned in a CD. I suppose a favorable tax treatment wouldn’t hurt either right?
