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dylatess
dylatess, ATTORNEY
Category: Social Security
Satisfied Customers: 3427
Experience:  37 plus years of SSD practice
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I COULDN'T GET THE LIST OF WAYS TO SURVIVE THIS CRASH YOU

Customer Question

I COULDN'T GET THE LIST OF WAYS TO SURVIVE THIS CRASH YOU ARE PREDICTING. I AM 82 YEARS OLD AND I AND MY DAUGHTER LIVE ON SS AND MY LITTLE RETIREMENT CHECK FROM GSA WHERE I RETIRED FROM.
WHAT DO YOU SUGGEST THAT I DO SINCE I AM MAKING LARGE MTG. PAYMENTS?
Submitted: 5 months ago.
Category: Social Security
Expert:  Lane replied 5 months ago.

Madelene, I'm not sure where you got the information about the supposed "crash."

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But my advice would be not to listen to those gloom and doom naysayers out there (or at least take this with a grain of salt)

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Most of the time, they are trying to sell you something, get you to vote a certain way, or simply sensationalizing to get people to read their periodicals/publications.

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The lastest economic information we have tells us that private consumption—the main engine of the economy—continued to grow, during May - Consumer spending is likely to have remained buoyant at the outset of Q2 as retail sales surged in April.

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And meanwhile, the April jobs report grabbed the headlines, with payrolls growing less than expected and unemployment staying steady at 5.0%. But 5% is what most economists will call full employment ... the headlines made THAT sound bad.

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“During the past ten years, we passed through the great financial crisis of our generation, and a broad decline in equity markets without precedent since the 1929–32 experience. But as always in the past, the world muddled through, and today the global economy is scaling new heights. More to the point, equity markets (with reinvested dividends) stand half again higher than they did at their peak before the onset of the crisis—and three times where they were at the trough.

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This is ALWAYS the experience ... at our ages, surely you must see this ... The declines, however significant, have been temporary, and have always given way to the resumption of increasing earnings, dividends, and share values.

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I'd submit that, although we may be taking a much needed breather, after the incredible growth from 2009 through 2015, that we're in for another sustained period of growth ... once the uncertainty of the politics leave after our national election, and oil supply and demand begins to stabilize after our opening up THAT flow (a good thing but pushing prices down incredibly) - we expect oil supply and demand to normalize in 2018.

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