What would you do if your sole source of income dried up tomorrow?
Would you be prepared? Do you have a plan?
In the Age of Turmoil, many income sources that were considered ‘stable’ in the old system will be at risk; this includes retirement pensions, investment income, salaries and wages, and small business profits.
For example, retirees living on company pensions could easily see their monthly stipends fall due to corporate bankruptcies. And while public pensions like Social Security are unlikely to change in the short-term, this broken system will undoubtedly see massive restructuring in the next decade.
Meanwhile, many small business owners and self-employed professionals may suffer reduced revenue as market conditions and consumer priorities shift; this has already happened to many businesses in the retail and real estate sectors.
For salaried workers, we live in a rather bizarre time when corporate profits are surging, yet revenue growth is lackluster. Companies are cutting back on expenses by reducing their headcounts and squeezing every ounce of productivity out of a smaller workforce. (more)