A few weeks ago I met with La Cañadans David Penniall and Robert Bender. Both men have a combined 100 years in financial planning and investment strategies. I wanted to get their take on the current economic challenges we all face in these increasingly uncertain global times.
Our discussions were purposely apolitical. Bender did make an interesting point, though, when he said the occupant of the White House is not as powerful as Congress in making tax laws. An election year could add more uncertainty to an already off-kilter market.
I asked this question: Let’s say that I’m a 60-year old, locally-employed man with a good job in a medium-size company. I have a 401(k), and a savings drawing microscopic interest. I can see that my savings is losing value based on inflation. I plan to retire at 65 if I can.