With the rapid retreat from Afghanistan, the overseas conflicts that we have been fighting now seem to be over. There is plenty to compare this with and the end of the Viet Nam War. Inflation numbers are almost identical. The expansive social funding that went on after Viet Nam is being attempted by the current administration. And what is most troubling for us here in Huntsville is defense spending was cut between 33% to 43% after Viet Nam, depending on what economist you believe. Add to it the current shortages we are facing, and the road ahead looks rough.
Our founder began her career during that time. She saw interest rates as high as 18%, people purchasing homes with not one mortgage, but a “second” mortgage as well. She started when the DJIA was at a paltry 2500 compared to over 35,000 today. She was there when congress deregulated the brokerage industry and Charles Schwab was born. She was employee number 1250 when she went to work for Chuck. She was part of the internet craze that gave way to being able to trade and access accounts from your home today.
The most important thing, she saw a lot of mistakes as well as a lot of successes. While at Schwab, she watched many a do-it-yourself investor lose lots of money. She knew then at some point her calling would be to help people navigate these turbulent times. Especially when they need their investments to provide an income for the rest of their lives.
These last few years have been pretty good, a rising tide raises all the boats. But if you are interested in planning and preparing for what may lie ahead, give us a call at 256-417-4870.
*That's Chuck Schwab front and center, Laura is second row third from the left.
Mike Mickels is President of CochranMickels Retirement Specialists and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. They also provide retirement and benefits training to Federal employees. Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc, a Registered Investment Advisor. CochranMickels and Cambridge are not affiliated.