How Will The Government Shutdown Affect Your Retirement?
As many of you may have seen and read, we have found ourselves in the midst of another government shutdown. We have seen this before, and it is very likely to happen again, especially given our current financial issues.
The big question is – how will all of this affect your retirement?
Well, unless you happen to work for the Federal Government, then the only way this shutdown will truly affect you is if you have too much of your portfolio at risk in the markets.
- Too much of a decline in market values can easily lead to a bear market, as market values are barely hanging on as it is.
- If you are depending on your market based portfolio to provide you all you need in retirement, this potential pullback could put you in a serious bind.
If you have set up your retirement in safe accounts with income guarantees, then you need not worry.
On the other hand, if you have not yet carved out a portion of your retirement savings to place into those safe accounts with income guarantees, then now is the time to do so while you still can. A prolonged shutdown could be devastating to your portfolio and your retirement security.
Don’t let what's going on in Washington DC negatively affect your retirement security. It’s a good time to pick up the phone and call the office to discuss your planning. It’s free and easy, just call us at 775-853-9033.