Going off the Rails
Is this the start of the next BEAR MARKET correction? Maybe, maybe not. But what are you doing today to prepare yourself for that eventuality? Will you be prepared when it comes? How deep will it go? How long will it last?
When the market is charging ahead making new highs, nobody wants to pull money out because it’s riding high. That’s precisely the time you might want to lock in some of those gains, pull it off the table and secure some guaranteed income.
A stock market correction or crash can strike even the wealthiest among us, which is why retirement insurance is a necessity not just to ensure we can survive a downturn but to protect against loss of income. Unfortunately, as human beings we often have the delusion that what’s happened in the recent past will continue indefinitely. If we’ve been lucky with our investments, we may think that will always be the case. The reality is that everybody’s luck runs out at some point, and often does so when you can least afford it.
When we talk about insurance, everybody insures their home, their cars, their boats, their jewelry, they insure their lives. So everything that we possess that’s of value – including everyone we love – our wife, our husband, our children, we have insurance. We're already betting and depending on one industry. Is it Wall Street? No. Is it the banks? No. It's the insurance industry.
In the last 40 years, the number of home fires have declined by nearly 50%. Yet we continue buying fire insurance for our homes. Why? Three words: Just in case.
We don’t know when a stove burner might be left on just long enough to start a grease fire. We don’t know when faulty electrical wiring might short out, sparking a blaze. That’s what insurance is for. Just like your home, your retirement account is a valuable asset and it needs protection too.
