There are three words that we don’t want to hear together, “financial perfect storm”, but it’s important to be ready for one in case it comes. Remember the movie Perfect Storm featuring George Clooney? What if a few major events came together in the financial world to create the same situation for our economy? It’s not a far-fetched scenario for some people so we’ll discuss the reality of the situation on this episode.
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Do you remember the movie Perfect Storm that debuted in 2000 with George Clooney and Mark Wahlberg? That film told the story of fisherman that came across the worst possible storm and it created a situation that they couldn’t survive. The movie didn’t receive great reviews but it give us a ‘what if’ scenario that we can apply to finance.
Some experts believe that a few different world events could soon be impacting us negatively all at the same time. If that were to happen, there’s a belief that it could create a financial perfect storm for our economy. Are you prepared if that happened?
We posed the question to Brian Bowen on this episode of Retire with Integrity to see how concerned he and his team are about these prognostications. Brian shares the indicators he’s paying attention to and also explains some things to consider for your own retirement plan.
No one wants to watch a recession drain our life savings so managing risk while having a system in place in case of disaster can put you ahead of the game.
Listen to the full episode to hear the full conversation or click the timestamps below to listen to a specific topic.
[0:50] – Some experts worry the ‘perfect storm’ could be happening with our economy.
[1:15] – Does Brian feel that’s happening?
[2:13] – Not having a system that exits you out of a recession is what really costs you a lot of money.
[3:19] – You might be okay with the risk in your portfolio while the market is going well, but what about in a down market?
[5:13] – One of the important decisions you make in retirement is which order you take money from your income sources.
[6:40] – How Brian’s team helps you make that decision in retirement.
[9:30] – Understanding the Social Security game.
Brian Bowen – Contact