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Day Six for Debra was a bad day. Tune in to see what exactly went wrong...

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What To Do with Your Retirement In A Market Correction

I have been getting a lot of requests to put up a blog post to prepare everyday retirees for an upcoming market correction.  First of all let’s describe or identify a market correction.  A market correction is essentially an overall market drop of about 10%.  A market correction is not to be confused with a bear market, which is about a 20% drop in the markets.  First, let’s discuss when the last official market correction was on the books.  The last correction was the summer of 2015, and it started with China’s market in June.  China had a stock market crash that continued into July and August, then around the middle or August the Dow Jones Index (a collection of key stocks that measure the market as a whole)  The Dow Jones Stock Index basically measure the pillars or historical fortune 500 giants of the United States fell about 10%.  The Dow Jones fell 588 points during a two-day period, 1,300 points from August 18–21. Then on Monday, August 24, the world stock markets were down s

One Retirement Myth To Be Aware Of Today

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Why I Popped The Retirement Question

I was creating a retirement plan for a client by the name of Ms. Smith the other day, and I popped the question to her. She said, well, I don't know. It depends on how I feel at that time. I said what do you mean how do you feel at that time, better yet how do you feel about it today. She said I feel pretty good about it today. I said I have been married for 23 years and have never proposed this question to my wife. She said you should; she would probably feel the same way I do about it. The question I had popped to Ms. Smith was, "If we could go back to November 2007, the "Great Recession" and her entire retirement portfolio was cut in half by 50% would she stick it out?" She said mainly she was in a different place financially and mentally at the time verse where she is now. I told her I get it, and she should be in two different areas in her life versus back then, but preparing retirement plans, I have to ask that question. Not because it's on my q