Lasting Pandemic-Related Market Risks and Your Retirement
The pandemic and resulting economic shifts have drastically changed not only the general economic landscape, but your retirement landscape as well.
Federal Financial Assistance
Population-wide government payouts in a scale unseen before, in effort to combat economic downturn, heightened inflation and caused new problems for Americans both working and in retirement, with price hikes hurting everyone’s bottom line from corporate productions to individuals’ groceries and gas.
Downshifts in the Global Economy
Generally speaking, the world has been in a phase of economic growth for the last several years as operations have expanded across the globe with new technologies. This enduring period of world-wide economic growth has begun to decline in addition to more countries turning their backs on open trade, with possibilities of industry cut-offs to select countries by industry giants like China becoming more likely.
Layoffs and other pandemic-related concerns caused a massive workforce downturn in the US and abroad, and the aftershocks are still being felt as the workforce is yet to fully recover. In addition to job-loss as well as personnel-loss to fill available positions, inflation has led to buying power remaining low as workers’ raises and salaries continue to lose their value when compared to heightened inflation rates.
As our nation and the rest of the world’s economic situation continues to be precarious and unpredictable, and as inflation threatens the longevity of the savings accrued by retirees and future retirees, careful financial planning becomes more and more pertinent. Developing a comprehensive retirement plan that protects your assets and considers a plethora of angles and possible outcomes will leave you better-protected than winging your decisions based on emotions and headlines.
To schedule a complimentary financial review with Moore’s Wealth Management, click here or call our office at 770-535-5000, where a staff-member is awaiting your call Monday through Friday, 9AM to 5PM.
This material is provided as a courtesy and for educational purposes only. Please consult your investment professional, legal or tax advisor for specific information pertaining to your situation.
All information contained herein is derived from sources deemed to be reliable but cannot be guaranteed. All views/opinions expressed in this newsletter are solely those of the author and do not reflect the views/opinions held by Advisory Services Network, LLC.
This article may contain links to articles or other information that may be on a third-party website. Advisory Services Network, LLC is not responsible for and does not control, adopt, or endorse any content contained on any third-party website.