Chapter 2. PASSING THE WEALTH BATON: Building a Sustainable Investment and Savings Plan to Ensure a Solid Financial Future
So how do the twenty-first century saver and investor respond to all the issues and demands of a changing investment landscape?
Well, as you can likely already tell, it's going to take something different. And as you to add it all up, it starts to look like a tall order. . . .
Your first reaction might be to pack up the house, rent a moving truck, and say good-bye to the United States. And while that's an option, it's probably not realistic. You have family, friends, possibly even a business here at home, and you shouldn't give that up. You do not need to jump ship, but you do need to take steps to buffer the impact the coming global power shift will have on your financial future.
As discussed earlier, the costs of mounting federal debt, endless entitlement obligations, stealth taxes, outrageous lawsuits, and emerging economies all point toward an event horizon in which America's financial future is completely uncertain.
If each of these things had happened one at a time, things might not seem so dire. However, the reality is that a decades-long transition—one where financial control is passed across oceans and borders to a younger, hungrier economy—is already well under way.
If you're trying to create a long-term investment strategy in this climate, there are four steps you should take in order to build an investment and savings plan based on the current state of ...
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