Art Cashin is one of my favorite Wall Street personalities. He has been on the floor at the NYSE for over 50 years and has seen as close to everything as anyone I know! He famously says "don't bet on the end of the world, it only comes once."
The world is easy to see in a pessimistic light at this time with all the chaos surrounding us. The war in Ukraine, politics, inflation, interest rates, homelessness and doom and gloom discussions are common. The easiest path is that of negativity yet is it the right way to look at the state of our own lives right now? In most cases I would dare say things are not that bad if we pay attention to the right stuff and ignore the wrong.
I have had several meetings with prospective clients who have had an advisor tell them that they would not be able to retire. The basis for this analysis came from a software program and when I did my work it was dead wrong. These people could retire rather easily right now, and I was able to put together the evidence to show them how it could be done. It was a bright light for them, and we had a good laugh about the doom and gloom that had been laid on them from some program on a computer that didn't have it all figured out.
The frequency of these types of discussions has been increasing lately and it really is an interesting phenomenon. I have been doing retirement planning for nearly 30 years and this is something that intrigues me as to why this is happening. The reliance on this type of analysis can be detrimental and downright depressing for many people. The truth is that in all my years of planning and investing it is rare to see someone fail who has a good plan. The problem with programs is that they are unable to really customize solutions with investments. They use indices and assumptions that are not what happens in the real world.
Plan well and don't bet on the end of the world! You will make it happen and find a way if you have the desire to do the work. If you need some help look for advice from someone you find has the 3 C's. Competency, chemistry, and communication that fit with you and your goals and style will go a long way in getting you in comfortable and confident position.