Understanding Brexit

Risk Management: What is Brexit, how will it affect us, and what can we do about it? I’m Steve Shyman, at Wilsave, we are Specialists in Safer Money Strategies The world is a crazy place Recently Britain voted to break off and become independent from the European economy This move has been called “Brexit” which means a “British Exit” Let’s Understand how this might affect us in the U.S.

The world continues to monitor Britain’s recent decision to separate from the European Union. The economy in the United Kingdom (U.K.) is beginning to feel the impact of the decision. Many experts believe the country’s economy could experience a recession.

Here are some general opinions taken from articles from some major sources on the topic of Brexit: Reuters wrote an article called “Tracking Brexit – how referendum shock is affecting the UK economy” In summary, the article said:  In Britain, it looks like an economic slowdown is in the works a recession could be around the corner.

CNBC wrote an article called “Brexit could bring a little discussed drag on the US economy” In summary, the article said:  While the effect on U.S. stocks has been fairly minimal so far, we do see broader effects on the global economy.

The Wall Street Journal wrote an article called “U.S. Economy Looks Likely to Weather ‘Brexit’ Storm

In summary, the article said:  The U.K.’s decision to exit the European Union may affect the overall U.S. economy as time goes by. But it isn’t likely to derail it. The “Brexit” decision will become just one in a long list of issues contributing to the American economy’s sluggish growth.

Time wrote an article called “Why Brexit Really Is a Big Deal for the U.S. Economy” In summary, the article said:  Politicians are trying to reassure Americans that Britain’s vote last week to leave the EU won’t affect the USA economically. They are wrong.

What to take away from all of this: While it’s tempting to think that European financial issues will stay in Europe, it’s important to remember that such shifts in the global economy can certainly have a ripple effect in our own economy. This market volatility could have an impact on your personal budget and your retirement.

That’s why it’s important to keep a balanced retirement portfolio, combining some riskier products with more conservative savings options such as Fixed Indexed Annuities (FIAs), to help guard against market swings and market volatility like those stemming from Brexit.

The landscape has changed over the last 40 years. To keep up and do well, you must be able to adapt your investment style to what is going on today. To see how you can protect your portfolio Please contact us at 312-953-2097, send me an email at steve@wilsave.com, or fill out the meeting request form at www.wilsave.com There is no charge for our no obligation consultation.

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