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Navigating the Prevailing Retirement Uncertainty
Here’s a blunt statement: Nobody knows what’s going to happen to the U.S. economy as the COVID-19 pandemic stampedes through the country. In fact, the absolute uncertainty we’re seeing brings to mind the 2002 Department of Defense news briefing comments by United States Secretary of Defense Donald Rumsfeld: “ … as we know, there are known knowns; there are things we know we know. We also know there are known unknowns; that is to say we know there are some things we do not know. But there are also unknown unknowns—the ones we don’t know we don’t know.”
So, with Secretary Rumsfeld’s observations in the background, we can easily understand that setting a cohesive retirement strategy is no simple task. But there is guidance in many quarters, and one source is a post by The Motley Fool’s Catherine Brock on mcdowellnews.com, in which she suggests, “Whether you’d planned on retiring next year, in 2030, or much later, it’s wise to revisit your financial plan in these uncertain economic times.” Her post goes on to outline several strategic moves future retirees might want to consider, the last of which is to delay filing for Social Security benefits as long as your health, finances, and expected longevity will allow. Read her post here…
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