Let’s face it; the road to retirement isn’t always straightforward. Even with the best planning, many of us are likely to have to experience at least one financial setback in our life. The older we get, the more stressful it can be.
2020 – A year that we could never have predicted
And what a rollercoaster we are all on as I update this post in July 2020! The retirement savings that looked quite healthy just six months ago seem under threat. Every country’s economy is dramatically over-extended, and financial gurus are predicting tough times for all. We can’t do much about this except manage our investments as best we can and
A financial setback can be out of your control at any time
Unfortunately, there are many events over which you have no control. A sudden job loss, divorce, bad health, disability, natural disaster, care needs of an elderly parent, or the sudden death of a partner are all difficult to foresee sometimes. That doesn’t mean that you can’t plan for them. For instance, it is wise to build an emergency fund to help you through any unforeseen disasters. But how many of us do that?