A single bad market event can have catastrophic effects on your retirement funds so it is important to have safeguards in place to help reduce the possibility of waking up one morning and finding your nest eggs broken. The brokerage community insists that if you are just patient enough your portfolio will rebound, but what if it doesn’t? In today’s article Dennis Miller takes a look at some steps you can take to help protect your life’s savings.~ Tim McMahon, editor.
By Dennis Miller
Alan Greenspan has popped back into the limelight and confirmed some of my worst fears (not that they needed much confirming). Here’s a recap of statements Greenspan made at the New Orleans Investment Conference:
- The Federal Reserve’s primary mission is to support out-of-control government spending. To do so, it’s “created” trillions of dollars. Regardless of who is in office, politicians can’t help themselves.
- Spending will continue. If the Fed tries to reverse the trend, there will be a significant market event. If it keeps doing what it’s doing, significant inflation is inevitable.
- A lot of people will be hurt.