It was another down day in the market.
So far the market was down 40% over 3 months. (And it’d drop another 10% to drop before it was done.)
Everyone around my office was talking to their clients about how tightening their belts and a having a
“slim Holiday.”
It was December 2008. I was a newly licensed Financial Advisor with no clients to worry about (thankfully).
But the question was impossible to miss…
If you’re living off your savings, what happens when you’re savings are suddenly cut in half?
This questions is critical for retirees of all ages – from 45 to 75.
And the right answers can be found both by studying what works and what doesn’t work.IN 2008, I
found what DOESN’T work to create sustainable, consistent passive income.
So let’s begin this 4 part series with the lessons I learned about what doesn’t work.
(Surprisingly, almost no one has updated their recommendations, so a “slim Holiday Season” will still be
the prescription most professionals will write for the next big downturn.)
Tomorrow, I’ll show you how to set up your money for income you can live of off forever…
