Looming Pension Crisis – Total Financial Solutions Safer Money Hour – June 20, 2017

by | Jun 20, 2017 | Podcasts |

Looming Pension Crisis – Total Financial Solutions Safer Money Hour – June 20, 2017

by Total Financial Safer Money Hour

Hosts: Arif Halaby & Jeff Girard

Topic: Looming Pension Crisis

Guest: None

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On this episode of Total Financial Solutions Safer Money Hour, Hosts Arif Halaby and Jeff Girard discuss your retirement and the looming pension crisis.

There are a lot of states that are on the verge of filling Chapter 9 bankruptcy. A Chapter 9 bankruptcy is referred to as a municipality or state bankruptcy. In order to do so the state would need permission from Congress.

One of those states is Illinois. They are about $130 billion in debt.

California is in debt as well, however you see the rains still running, the lights still on and groceries delivered fresh ready for you to buy, Arif said. However what people do not understand is that the crash happens behind you, behind closed doors and very quickly and then you start to notice new taxes.

Previous Episode: How To Stay Safe On Summer Vacation – Total Financial Solutions Safer Money Hour – June 6, 2017

Now you might say to yourself I don’t have a pension, or that you are well off enough.

Jeff’s Things to Remember:

  1. Never rely on one source of income in retirement
  2. “Your pension doesn’t belong to you … this bucket of dollars is supposed to pay you every single month, but you are only entitled to the next month’s pay check.” – Jeff Girard
  3. You still have to save while in retirement “They are going to be rainy days.” – Arif Halaby

Total Financial Solutions offers assistance with preparing for retirement and financial planning in Santa Clarita and the surrounding valleys. Santa Clarita financial advisor Arif M. Halaby, a Certified Estate Planner, and Total Financial Solutions staff work with people of all ages, helping them protect, grow and preserve their assets through an individualized approach. Arif Halaby is also the host of “Total Financial Solutions Safer Money Hour” on KHTS AM-1220. Launched in 2004, the show offers listeners from Santa Clarita financial planning tips and guidance for dealing with today’s ever-changing financial needs.

About Total Financial Solutions Safer Money Hour

Total Financial Solutions Safer Money Hour, with host Arif Halaby, President & CEO of Total Financial Solutions airs every Tuesday from Noon to 1pm on Santa Clarita’s Hometown Station, KHTS AM-1220.

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