If you know someone who retired, or looked to retire in 2008, you know what market uncertainty can do to a retirement blueprint.
The uncertainties haven’t gone away. Are we at the cusp of a bond market bubble bursting? Will the Euro Zone find its footing? Will U.S. debt be a drag on our economic vitality?
Over a 30-year period, uncertainties may evaporate or resolve themselves, but new ones historically have emerged. This means understanding that the solutions for one set of economic circumstances may not be appropriate for a new set of circumstances.
Scottish Philosopher Thomas Carlyle said “He who could foresee affairs three days in advance would be rich for thousands of years.”² Preparing for uncertainties is less about knowing what the future holds as it is about being able to respond to changes as they unfold.