In a recent appearance on RT Boom Bust, Peter Schiff emphasized the stock market bubble has burst and we are already in a bear market.
This is early in this bear market. It’s very young and unfortunately, it’s going to be very long-lived. I think this is going to be similar, if not worse, than the bear market that went from 1966 to 1982. It took 16 years for the Dow to make a new high, and during that time period, inflation took about 70% away from the Dow’s value. This time I think it’s going to be worse.”
This isn’t good news if you’re planning for your retirement. So, how can you protect your wealth as the stock market bears rage? One way is by adding precious metals to your retirement plan.
Are you depending on Social Security and Medicare for your retirement?
You might want to rethink that plan. These government retirement programs are going broke even faster than expected.
Do you dream of retirement? Sitting on a beach sipping cocktails? Leisurely afternoon rounds of golf? Spending hours playing with grandchildren?
Well, for a lot of Americans, that retirement dream may turn into a nightmare. Instead of reclining poolside, they may find themselves greeting customers at Walmart.
According to data recently released by Northwestern Mutual, one-third of Americans have less than $5,000 in retirement savings.