When Financial Uncertainty Rears Its Ugly Head

Major unexpected challenges can occur at any time. A sudden job loss, a terminal diagnosis or death, a lawsuit directed at you, or a disaster that wrecks your property may cause significant distress that puts your financial future in question.

And while having significant savings or an extensive resume might mitigate much of that uncertainty, affluence and experience don’t guarantee that you’ll completely sidestep serious financial setbacks.

Example: By age 70, nearly all Americans (96 percent) will have experienced four or more major life events such as a layoff, illness or divorce that cause their incomes to drop 10 percent or more. And at least once over the course of their working lives, six in ten workers go a full year or more without earnings, according to the National Endowment for Financial Education.

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Robert J. Pyle, CFP®, CFA, AEP® founded Diversified Asset Management, Inc., in 1996 to provide personalized, comprehensive wealth management services to successful individuals, families, single women, and business owners. His specialty is addressing the complex financial needs of self-employed professionals, corporate executives, and small-business owners. Our disclosure can be found here. The views, opinion, information, and content provided here are solely those of the respective authors, and may not represent the views or opinions of Diversified Asset Management, Inc. Diversified Asset Management, Inc. cannot guarantee the accuracy or currency of any such third party information or content, and does not undertake to verify or update such information or content. Any such information or other content should not be construed as investment, legal, accounting, or tax advice.