Bracing For The Next Recession

Bracing For The Next Recession

Economic Worries

June 20, 2013 – You sock away as many hard-earned dollars as you can spare, invest in a solid low-cost mutual fund or follow your advisor’s investment recommendations in anticipation of some day being able to convert your next egg to a retirement cash flow that will help support you and your family comfortably after your work life comes to an end.

Save, wait and flourish.  That’s the conventional wisdom.

Maybe you were too young to fully appreciate it or didn’t have a large enough nest egg to worry about it in 2008 when The Great Recession hit.

Maybe you got clobbered by it like nearly everyone in the Universe.  (Guilty!)

Or maybe you lost a bunch of money but gutted it out the past five years, weaned yourself off the Pepto Bismol as your retirement portfolio rebounded and you are once again feeling like the future is bright.

And why not?  After all, the economy seems to be heading in a positive direction if underwhelmingly so.

Still, you know “what goes up must come down” so you pore over economic forecasts and advice columns to make sure you don’t get swept up in the free fall you know will occur some day.

This time, you pledge, you will NOT get burned by another recession.

There’s only one thing wrong with this picture:

Economists have a VERY bad track record at predicting recessions.

According to a telling chart featured in this week’s Business Insider, economists collectively failed to correctly predict every recession since the 1970s.

The excerpt is based on the article “Economists Are Totally Clueless About The Economy” appearing in the weekly newsletter of financial expert John Mauldin.

Why We Like Annuities

At Finn Financial Group, we will never tell you which stocks to pick or when the next recession is coming.  It’s just not our thing.

Our expertise in annuities, on the other hand, allows us to help clients achieve their long-term financial security on a tax-advantaged basis without the worry.

The recession can come or go as it pleases but the annuity’s guaranteed cash flows continue.

Sure, you might be missing out on some “market gains” but the peace of mind that comes from knowing what to expect makes for a more stress-free future.

This is why clients across the country seek us out for help with their structured settlements, structured attorney fees and 401(k) roll-overs.

Safety, security and guaranteed cash flows.  That IS our thing!

Besides, too many spoonfuls of a thick, pink liquid containing something called bismuth subsalicyclate just can’t be good for you.

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