What’s Coming in Our World?
This is not a forecast.
This is a list of the changes and risks we all need to consider as possibilities.
These are threats that are possible over the next 12 to 24 to 36 months.
The Political World
· More wars and wars affecting more countries
· Many more refugees in many places
· More trade wars. More currency wars.
· Less cooperation and more conflict among countries
· Some countries splitting apart into separate countries
The Physical World
· Many more storms, earthquakes and volcanoes
· Many more floods and droughts - affecting the food supply
· Accelerating climate change – whatever the cause
· Many more restrictive and punitive laws and regulations
· Many, many more lawsuits targeting companies and people with money
· Shortage of key job skills and increasing unemployment for others
· Higher taxes
· Attempts to tax wealth that you already have, not just income
· Attempts to tax or restrict retirement plans like IRAs and 401Ks
· Attempts to reduce benefits like social security and medicare for those with assets or income
· More social benefit programs for those with less income
· Crisis in the health care system complicated by more epidemics
· More cyber-crime, ransomware and identity theft
· More riots. More hate. More shaming
· More murders. More sex trafficking. More evil
· Sudden reversal to higher, tighter lending standards
· Refusal to renew short-term renewable loans
· Great reluctance to grant longer term loans
· Some banks might fail
· Some banks will exercise their right to just take some of your money over $250,000 and use it to meet their financial needs. They can.
· Demands on the FDIC insurance might exceed their capacity to help
· Attempts to foreclose on the homes and properties with the most equity. If you miss a couple of payments and your house is almost paid off, they will foreclose on you first.
Just like during the depression.
· Watch out for the fine print in your loan contracts or deposit agreements.
Loans may be called. Withdrawals may be restricted.
Stock and Financial Markets
· Huge drop in the stock market as we approach October 2020
· Increasing volatility – up and down unpredictably
· Possible changes in market rules as a reaction
· These market drops will affect the values of 401K and IRA and savings
· A significant number of companies will fail
I truly hope that none of these are true.
If none are true, then happy day.
But if you believe some or many of these are possible, then contact me on ways to improve your financial survival
Contact me by email at email@example.com or text or call me at 817-881-5631.
Let us help you customize your own Personal Financing Solutions.