Mar 15, 2019
Financial pundits love to predict a coming apocalypse. Doom and
gloom might drive ratings, but that mentality isn't good for your
financial health. Join us as we examine the facts and sort truth
What You'll Learn:
The Social Security Apocalypse.
- Some argue Social Security is going broke. They say your
benefit might disappear. We're not sure the situation is quite that
dire. However, there is an issue with the Social Security system.
While your benefit probably won't be cut, you could see changes to
4:00 - The National Debt
- National debt is skyrocketing, and some predict a looming debt
apocalypse. They argue tax rates will also skyrocket. Reality
suggests the national debt is a problem, and neither political
party in Washington seems to have a solution to that problem. This
is an issue we can't control, and regardless of what happens, you
don't want your retirement savings depending on the national debt
issue. Control what you can, and don't worry about the uncertainties.
An Interest Rate Apocalypse.
- People say, "We've all gotten used to low interest rates. When
the Fed raises them, nobody will want to borrow money, and the
economy will grind to a halt." This is a bit of a stretch.
Americans live in a world in which most people are constantly
borrowing money. Regardless of what the economy does, people and
companies will continue to borrow money. The economy won't grind to
a halt for this reason.
An Impending Stock Market Apocalypse.
- It's completely true the market has been jetting upward for a
long time. Statistically speaking, we are overdue for a crash.
However, past performance isn't indicative of future results,
right? It's impossible to predict when a crash will happen, and we
certainly can't say how bad it will be. Market timing simply
13:21 - Retirement Planning Just Ain't Like It Used To
- You always hear your parents talking about how hard things used
to be. We've all heard the adage about walking uphill both ways in
the snow to get to school. However, reality would suggest
retirement planning used to actually be easier than it is
14:00 - We're Living Longer.
- Longevity is a great thing, but it was a lot easier to plan for
retirement when you didn't have to make your money last as long. We
need more income to support our longer lifespan.
16:10 - Healthcare Is More Expensive.
- Healthcare is more expensive today than it was for our parents.
The quality of the care is better, but it costs more to get this
care. Therefore, it's become a greater factor in retirement.
17:48 - Higher Interest Rates Can Be
- These days, interest rates are low, and that means our money
doesn't earn as much sitting in the bank as it did in the past.
That presents a problem when you're trying to grow your
19:26 - Pensions Have Gone The Way Of The
- The dodo bird has been extinct for
a long time, and pensions have become increasingly rare. Gone are
the days of receiving a gold watch and a large pension when you
"You do not want to count on things that you can't control in
your retirement for your retirement security. You've to got control
as much as you can." - Joel Johnson
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For further exploration of this topic and additional resources,
check out our blog here: https://johnsonbrunetti.com/are-we-entering-a-financial-apocalypse/