We are now officially into a full-fledged recession based on the data from the last two quarters. So welcome to Recession 2022 – The New Economy.
For the last few months, we have participated in several forums and conferences speaking about recessions and its effect on markets, your finances, retirement, and the opportunities that investors may have.
In summary, its all a bunch of experts with fancy speech trying to predict the future. With over a few decades of experience in “financial speak”, let me tell you what’s going on and what you have to do if you are retired.
There are two camps in any economic downturn:
- There is the camp that feels we will feel the apocalypse rain down upon us
- There is the the camp that feels opportunities will abound and its not going to be that bad.
However, if you are retired you should be in the camp of “it shouldn’t matter”.
If you are retired, you should have set up your retirement income plan to make sure the impact (of any economic downturn), if any, is minimal. Your plan should have absolute assurance that no matter what – the “paycheck” is always in your bank account. That’s what our retirement plans do. We make sure that your “paycheck” is in the bank no matter what happens.
If you are retired or preparing for retirement, isn’t it time that you evaluate your retirement income plan and make sure that it allows you to STAY RETIRED! Call me today so we can talk about your future.