Noah built his ark before it started to rain. He didn’t know when the rain would start, he just had certainty that it was coming. The only thing that mattered was that the ark was ready before it started to rain.
COVID-19 unleashed its fury on the stock market in February and March of 2020. Fears escalated, sending stocks off a cliff. No sector was safe as panicked sellers aggressively began to unload. The speed at which the Dow tumbled into correction territory was stomach-churning. The last time the stocks slid into such a deep ravine was during the Great Recession of 2008. The carnage on Wall Street wiped away $6 trillion in market value in less than one week. Shockwaves and a few tremors continue to rumble from Wall Street.
It’s been more than a decade since investors experienced this level of Wall Street whiplash. Most of us get complacent when the investing road is smooth. This recent market calm is a reminder to take a hard look at your retirement and take preemptive steps to guard against the risks, which will inevitably occur.
As various upheavals threaten the market with the potential to drive stocks down, investors are waiting for the next shoe to drop and dread seeing how much damage can be inflicted on their retirement accounts. Many people in or near retirement are concerned that their nest eggs or 401(k)s won’t last through retirement.
Taking the offensive to Protect Your Retirement is a much better road to take than defensive. Be preemptive rather than after the fact. Take the initiative rather than subjecting yourself to the whim of the market. Don’t be complacent, be concerned. Don’t be a day late and a dollar short. Be decisive, not namby-pamby. Have character, don’t be spineless. Proper planning is a decisive way to replace an uncertain income stream with a certain one.
Few Americans can devote hours each day to watch a stock chart, and even if they could, they wouldn’t know what action to take. Millions of Americans who are not gamblers and want peace of mind are looking for ways to keep their money safe - financial products that can help them preserve and grow their money on a tax-deferred basis and provide guaranteed income in retirement. Take control of your financial future before it takes control of you.
