Boomers face retirement dilemmas of epic proportions. These problems at first glance, seem insurmountable. Some of the real issues are beyond our control.
The problem lies in an unknown future filled with financial events that are largely beyond your control. We can't predict inflation. It could be mild as it is currently or it could skyrocket. We can't predict taxes. They could remain stable and if the popular theory of being taxed less in retirement holds any validity, we can make educated guesses as to what that rate will be - but not much more. We can't predict the markets. We tend to be an optimistic sort projecting past historic returns as a measure of future results.
So if inflation doesn’t cooperate and taxes could rise and the markets continue to be volatile, where does that leave us? And with what controls?
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Paul Petillo is the Managing Editor or Target2025.com and a fellow Boomer.