By: Raymond J. Ohlson, CLU, CRC
There are many dates that will stick in our minds forever. A lot has to do with when you were born -- for me, the assassination of John F. Kennedy, Neil Armstrong walking on the moon, the Cuban Missile Crisis, and more. Of course, the most recent and unforgettable event was 9/11 -- I am sure you know exactly where you were and what you were doing. The footage on the television galvanized America and made us swear that we will be safer in the future. Yes, safer was the key. We were already relatively safe, but we all determined, as a country, that we needed more safety now … more than ever.
The same can be said for our financial world. Most of us remember that somber day in September, 2008, when economic mayhem wreaked havoc on the world. It shook our faith and the economic foundation of the civilized world. Many consider what we have been going through since December, 2007, as the worst economic situation since the Great Depression. Now, that is one period in history that I was not around to personally witness! But, we had terrible financial times and gas lines back in 1975, “Black Friday” (October 1987), and the tech meltdown at the turn of this century. Let us not forget that many refer to the last decade as the “lost decade” when speaking in financial terms.
But, we are coming around. Sure, it is going to take awhile, but things are improving. People’s balance sheets are improving as well. Why? Most have decided that it is time to “play it safe.” And that’s exactly what Safe Money News is all about. It is not our goal to sway you one way or another. Quite to the contrary, we just want to give you information that will allow you the ability to decide what to do with your money.
You see, I believe that there is a time and place for everything. For example, equities are a wonderful place to make larger returns on your nest egg. But we all know that “what goes up … must come down,” so there is the chance for substantial loss. Consequently, we’re just going to be focusing on “safe money places” for the dollars you decide to take off of the risk table. And, if you are like most people, the older you get, the less tolerance you have for risk. In the coming months I am going to be writing about guaranteed streams of retirement income, how to get the lowest cost life insurance, long term care alternatives, and how you can replace the lost social security check when one spouse dies.
I am very proud of all the contributors to Safe Money News, and I am happy and proud that you are taking the time to read this. If you are a subscriber … thanks and congratulations! If you are just viewing a complimentary copy, then go to www.safemoneyplaces.com and subscribe to the Safe Money News. It’s free, so why not? Also, while you are exploring this consumer site, Ask Sam or Sue any financial questions on your mind.
I am sure that you noticed that my section is called “Safety Pins.” Well, the safety pin has been a lifesaver for money, a problem solver for others, and it also makes sure that some Americans don’t lose their drawers! That’s going to be my goal. To help you stay out of harm’s way in today’s financial arena.
So, until next time … be safe