The ‘What If?’ Game

Today’s Prep:

Are you looking at the future and wondering, “What if…?” We talk through several scenarios to see what may or may not be possible and how you can prepare accordingly.

(Click the featured times below to jump forward in the episode)

Equipping Points:

When planning for retirement, a lot of things may or may not happen. What if they do happen? Eric talks through a number of possible scenarios and how they could impact your retirement plan.

What if interest rates double? Doubling sounds bad but interest rates doubling will slow borrowing down. This could help conservative savers, whereas right now it’s better for borrowers that interest rates are low. The value of bonds could also be negatively impacted.

Every society needs new workers coming in. What if couples currently under 30 years old average one child or less per family? This could impact the economy down the road as well as social benefits. If down the line college becomes free, what does that mean? Eric believes there’s value in it not being free. What if it at least became more affordable? College prices have gotten way out of control lately.

What happens if we have another market downturn this decade, similar to the financial crisis of 2008-2009? The market is always going to fluctuate. Is your retirement plan set up in a way that it would be derailed in a major downturn? Then you need a better plan. You want to be able to retire in any market, not just a good market.

Could a state secede from the union? It would be very difficult for that to happen based on our government structure. Politics have taken a turn lately. Some have decided it’s a time to move to another state that better suits their needs or values.

Listen to the entire episode or click on the timestamps below to skip ahead to a particular “what if” scenario.

[1:20] – What if… interest rates double?

[3:24] – What if… married couples under 30 have one (or less) child per family?

[6:31] – What if… college education becomes free?

[8:56] – What if… we experience another economic downturn?

[11:26] – What if… a state decides to secede from the union?

[15:02] – What if… price of oil doubles?

[16:10] – What if… we adopt a single payer healthcare system?


Today’s Takeaway:

If your retirement plan would derail if we went through another 2008-2009, then you don’t have an all-weather plan. You want to be able to retire in any economy.

-Eric Peterson

Related Resources:

Retirement Readiness Pop Quiz

Navigating the New Administration’s Tax Plan

Do You Agree or Disagree with this Retirement Advice?

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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