The Accelerating National Debt: How Will This Impact Your Retirement?
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The Accelerating National Debt: How Will This Impact Your Retirement?
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The current national debt is more than thirty-four trillion dollars, and it's increasing literally by the second. The number is so large that it's almost impossible to comprehend. Here’s one way to understand the scale of it all: If you were to count back in time one billion seconds, you'd find yourself back in the 1980s. But if you were to count a trillion seconds, you'd be transported to the era of wooly mammoths, around 30,000 B.C.
What's even more alarming is that this number is currently skyrocketing, with a staggering $1 trillion added every 100 days. That means it’s growing at a rate of about 10 billion dollars per day.
But America’s debt load is nothing new. Should you be concerned?
I believe the answer is yes, and doubly so if you are in or approaching retirement. Let's dive into the potential risks this massive liability could pose to your future.