If you have not picked up the morning paper yet today, please read anything but the stocks page. The market down, way down. People’s 401 K plans have lost a bunch. Some are back down to the spot where they were one year ago. Yesterday more than a quarter of S and P components hit a 52 week low. It reminds me of retirement accounts back in October of 2007. That is when the S and P 500 hit an all time high, sadly just over one year later November of 2008 it dropped to the lowest point it had been in over 11 years.
Your financial guy says, the market will always come back. What if you were set to retire next week? You do not have time for it to come back.
The first question I had this morning was who took my money? The second question might be… Am I better off stuffing my money under my pillow?
I have the answer!! We can set you up with a 7702 (a) private plan. You will never lose money on a 7702 (a) plan. I think it was Warren Buffet who said rule number one, NEVER LOSE MONEY! Rule number two, Remember rule number 1!
Eric Wilson is President of I Sell Health, Inc. A Chicago area insurance agency. He also offers Tax Free Retirement plans. He can be reached toll free at 888-448-5370 or online at www.isellhealth.com.
Thanks for reading.