Safeguard Against Recession
It’s necessary to plan and prepare for the future. No matter what your financial situation is, another recession could be devastating if you aren’t prepared for it.
Research from leading economists in the United States suggests we could be headed for another recession in the near future. If certain events in the trade war between China and the U.S. were to take place, America could sink into a recession within a year.
There is no guarantee that we will be in a recession soon, but then there is no proof that we won’t be in one either. Making sure you are prepared is the key to feeling secure with your finances.
Investing has many benefits, but it can have pitfalls. Taking risks is not advisable, especially if you are dealing with your nest egg.
“Make certain you are getting professional advice and that you have the best plan for you. Don’t take unnecessary risks with your money, rather look for the sensible middle ground of investing,” said President of David Lerner Associates, Martin Walcoe.
Retirement is in the top ten things that cause stress in people today. Stress can cause anxiety and create health problems. It can even lead to heart disease and high blood pressure. If you are not feeling confident about your financial situation, you should get advice and work to improve your situation so that you are not constantly worrying about money and what the future holds.
It's possible to delay taking Social Security benefits, which leads to your receiving more money each month. It can significantly help you get more money by delaying even a few years, according to experts. This could help safeguard you against a recession as the money you get from the SSA is guaranteed every month. The longer you work and save without taking a check from Social Security, the more you will get back down the line.
Whether you invest your benefits or simply wait longer to receive them is up to you. Work out what the best thing to do is for your situation.
IMPORTANT DISCLOSURES
Material contained in this article is provided for information purposes only and is not intended to be used in connection with the evaluation of any investments offered by David Lerner Associates, Inc. This material does not constitute an offer or recommendation to buy or sell securities and should not be considered in connection with the purchase or sale of securities.
To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law.
Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances.
These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliable– we cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice.
David Lerner Associates does not provide tax or legal advice. The information presented here is not specific to any individual's personal circumstances. Member FINRA & SIPC