The Winds of Financial Change

The winds of financial change blew strong in America during 2007 and 2008 as our economy experienced its most severe decline since the Great Depression, brought on by something as simple and beneficial as home mortgages.

Today, the US government faces massive funding shortfalls in its promise to the baby boomer generation for Social Security retirement benefits and health care coverage through Medicare. National debt is at an all time high and continues to grow. Many states face large deficits. Taxes and fees in many forms may increase. As boomers retire and move out of the workforce their spending will likely decrease, also affecting the economy. As the global economy develops, decisions made in other parts of the world have a profound impact on all of us.

Yes, the winds of financial change continue to blow strong and it is important that you adjust your sails accordingly or risk being blown off the course to retirement security.

How do you adjust? We are now living in an era of personal responsibility. You can no longer rely on the government or your employer to provide for your retirement security. In essence, you need to adjust by getting back to basics and practicing the fundamentals of sound living that successful people have used for years, by planning ahead, saving more and spending within your means.

Take the time to chart your financial course and really be aware of the importance that tax planning and management can have on your future. Revisit retirement accounts. Focus on basic investment disciplines such as diversification, asset allocation and periodic rebalancing. Pay close attention to efficient energy use and resolve to eliminate unnecessary debt which is a drag on accumulating wealth.

Now, more than ever, it requires knowledge to manage your financial future. At Armor Financial Group, we strive to inform our clients on matters we believe are important to their comprehensive retirement planning.