Consider this - the world is in chaos:
- Natural disasters are increasing in frequency and severity.
- Geopolitical struggles are the norm the world over.
- It seems there isn’t a year that goes by that we hear about some new war, coup, or military struggle in the world.
- International economies which have been stable for decades are weakening and struggling.
- The United States is in a perilous position of losing its position of leadership in the international financial community.
These and many other challenges are weakening the chances for financial strength and stability, especially for those who are about to retire, or those who have retired.
Couple these challenges with:
- the likelihood of living longer during retirement,
- a weakening social security system, and
- higher health costs,
and you have a recipe for disaster. At the very least, perhaps it is the likelihood of outliving your income.
Could there be anything more frightening to a retiree than the thought of losing one’s income during what should have been the safest part of their life?