i i • RUBY, WILDING & SWANSBURG So, let’s star t by acknowledging one thing: This isn’t the first watershed moment for American savers, and it won’t be the lWaset.need to understand what makes this moment unique and how to make the necessary adjustments to growing, sa ving, a nd sp ending ou r wealth. Throughout hist ory, sa vers ha ve l ived t hrough era s that dramatically impacted our economy and markets. The Great Depression of t he 1920s a nd '30s uncovered the fragility of an unregulated stock market. The OPEC eo mi l bt oa rpg oo wo ef rt hoeu1r 9e7c0osn eo xmpioc s ee nd gAi nmees r. iTc ah’es rt ee cl iha nn oc el oog ny fbour be ibglne burs t of the early 2000s showed the dangers of ballooni ng stock prices. And, the mortgage crisis of 2007- 08 ga ve paus e to the American dream of growing wealth through homeownership. None of these watershed moments took down America’s abili ty to save and prepare for the future . Sti ll, the y all required adjustments for savers who wanted to achieve their pre- crisis financial go als. We are living in another watershed moment as we move int o t he 2020s— one perha ps la rger tha n anyt hing our count ry has ex perienced since t he Great Depression. The COVID- 19 pandemic disrupted the American economy in ways no t see n for generations . Job s, commerce, and markets have all been impacted in the U.S. and abroad. But, as we’ll d iscuss in th is bo o k, th ere’s r easo n f or h ope . In fact, like many watershed moments, the COV ID pandemic presents opportunities for those savers who understand the new r isk s b eing creat ed a nd u ncovered. And that is why we wrote this book. First, to help you understand the new risks created in the wake of COVID- 19. Second, to help you reposition your retirement savings to
Made with FlippingBook interactive PDF creator