Here is a strong warning for those of us who are 55 and older. According to a recent explosive article from the New York Times, many of us are approaching a retirement crisis cliff.
Here’s the problem. We have lost up to 10 % of our wealth worth over the last ten years. They’re now calling it the Lost Decade. Sound familiar? Didn’t Japan go through something like this a few years ago?
Our homes have decreased in value. Many of the middle class depend upon their homes as a nest egg. That has changed not only for those younger folks who are upside down in their mortgages, but also for many of us who have already paid off our houses.
Plus our retirement accounts have lost wealth. Continue reading “Warning: Retirement Crisis for 55 or Older”