From Scarcity to Generosity
“Am I going to be OK?”
Whether stated in those words or otherwise implied, this is the question heard often during the past couple of years. Recession fears are still reverberating throughout our lives. Among the events that can be financially unsettling, planning for retirement can be especially stressful. A generation ago, “the company” took care of retirees in the form of pension programs and health care plans. Today, we now have a generation retiring with neither of these things, but instead with lump sums in 401(k), 403(b) and IRAs. Strategy decisions that used to be discussed in pension departments are now implemented at the kitchen table. A poor decision can diminish—if not devastate—one’s future financial security.