Climate change, economy, retirement

How to guarantee retirement

 

I recently read a post on LinkedIn which sounded the alarm bells that the “time is running out” for your retirement account.

I found it offensive and in poor taste, playing on the fears of the public at large. Throughout most of 2015 there has been a palatable undercurrent of fear in the market… on the part of investors, on the part of money managers, on the part of economists…

The recent pullback in the market reinforces that fear for some.

There is no doubt that the current environment is challenging when it comes to managing investments and making suitable choices.

The Fed may, or may not, raise interest rates.

The economy may, or may not, grow.

Things may be ready to fall apart, or they may not.

So many unknowns, so many cross currents…

The extraordinary actions taken by central banks around the world has led to an environment where retirees can no longer reliably receive adequate income from their investments. This is not the retirement they were expecting.

Those age 50 to 65, preparing to retire, face their fear of market volatility (remembering the crashes of 2000 and 2008) with the real need to generate higher returns so they can have adequate income 10 to 15 years down the road. They are forced by the market to take risk they would rather not take.

So what is the solution? Talk to a financial advisor about strategies that provide lifetime income. Some solutions act like a pension, once you start taking income, it will continue for as long as you live. It will ensure that you will not outlive your savings. People’s number one fear in most financial surveys is that they will outlive their savings, especially as longevity is increasing. A recent article in Bloomberg cited that they first person to live to 150 years of age has already been born.

Bill Gross named the period we are currently experiencing “the New Normal”. A protracted period of higher volatility and lower returns. Add to that an era of low or negative bond yields and it is no wonder that retirees are frightened.

Utilizing tools that provide lifetime income for a portion of your portfolio might make a great deal of sense. To learn more please feel free to reach out to me.

Retirement Income. Tax Efficient Planning.

Life Insurance. Disability Insurance

Socially Responsible Investing

To learn more contact:

James Cox

Cell: 215 768 5883

Email: james_cox@devon-financial.com

Devon Financial Partners 744 W Lancaster Av Suite 235 Wayne, PA 19087

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 7 Hanover Square, New York, NY 100034. 888-600-4667. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Gear #2017-49344 Exp 11/19

Climate change, economy, retirement

The Paris attacks and climate change… connecting the dots

The sad truth is that the attacks in Paris Nov. 13th are another expression of the collateral damage caused by the forces of global climate change. And there will be more such examples in the years to come…

Climate Change is raising global temperatures. In the emerging markets, especially the Middle East, populations are expanding rapidly as jobs, water and food becomes scarcer. This trend is expected to continue and accelerate. A recent study in the journal Nature linked rising CO2 and temperatures to declining GDP, especially outside of the US and Europe. They forecast emerging market GDP to decline by 75% by the end of the century.

The drought of 2012 led to a spike in food prices globally. As a result of food prices and extreme shortages, many people in North Africa and the Middle East took to the streets. The revolutions in Egypt, Tunisia, Libya, and Syria were the result of populations not being able to accept conditions of poverty, oppression and starvation any more. The people fleeing Syria today are victims of Climate Change. The people in France who died and were injured are victims of Climate Change.

We will have to find a way to deal with a variety of escalating challenges…

Migration—people will seek out a better quality of life for themselves and their family;

The growth of ISIS and similar terror states that will find their ranks swell because of populist despair in the emerging markets;

Global famine and thirst…

How do we sit back in a land of wealth and plenty and watch the suffering that is to come? Most people view Climate Change as a challenge we will have to face in 10 or 20 or 100 years. The truth is that we are facing it now.

As a financial advisor it is a challenging environment. Understanding the larger picture has never been more critical, especially when you have the competing interests trying to shape or force policy and opinion.

To discuss options as an investor in this environment to protect and grow your wealth, please feel free to reach out to me at james_cox@devon-financial.com

Retirement Income. Tax Efficient Planning.

Life Insurance. Disability Insurance

Socially Responsible Investing

To learn more contact:

James Cox

Cell: 215 768 5883

Email: james_cox@devon-financial.com

Devon Financial Partners 744 W Lancaster Ave., Suite 235, Wayne, PA 19087

— http://www.nature.com/nclimate/journal/v5/n2/full/nclimate2481.html

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 7 Hanover Square, New York, NY 100034. 888-600-4667. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. GEAR 2015-14612 Exp. 11/17

Climate change, economy, retirement

Rising temperatures threaten global GDP

A study just released by the science journal Nature makes the connection between the rise of global temperatures and the negative impact this has on GDP around the world. In the study, titled “Global non-linear effect of temperature on economic production”, researchers found that “fundamental productive elements of modern economies, such as workers and crops, exhibit highly non-linear responses to local temperature even in wealthy countries.” Meaning as temperatures rise, the effect is much greater and accelerates in ways that are potentially disastrous.

One of the lead authors, Marshall Burke of Stanford’s Department of Earth System Science, calls their study “the first evidence that economic activity in all regions is coupled to the global climate.”

The study continues, “If future adaptation mimics past adaptation, unmitigated warming is expected to reshape the global economy by reducing average global incomes roughly 23% by 2100 and widening global income inequality.”

The impact on poorer, less developed countries will be much greater than wealthier industrial countries.

This data changes the way we need to plan our financial futures. This is not “Leave It To Beaver” 1960. We are in a new world and need to re-examine how we as individuals get financially from point A to point B.

I will be hosting a number of seminars in New York, Philadelphia, and New Jersey in November 2015. To learn more, be sure to attend one of these programs.

http://www.nature.com/nature/journal/vaop/ncurrent/full/nature15725.html

Retirement Income. Tax Efficient Planning.

Life Insurance. Disability Insurance

Socially Responsible Investing

To learn more contact:I

James Cox

Cell: 215 768 5883

Email: james_cox@devon-financial.com

Devon Financial Partners 744 W Lancaster Av Suite 235 Wayne, PA 19087

This material contains the current opinions of the author but not necessarily those of Guardian or its subsidiaries and such opinions are subject to change without notice.

Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). OSJ: 7 Hanover Square, New York, NY 100034. 888-600-4667. Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is an indirect, wholly-owned subsidiary of Guardian. Devon Financial Partners, LLC is not an affiliate or subsidiary of PAS or Guardian. Guardian, its subsidiaries, agents, and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. 2015-13205 Exp. 10/17