National economic crisis
We all dead to think about national economic crises, but considering what happened in 2008, it’s best to stay diligent and prepared. Back then, when the stock market crashed it caused retirement accounts to lose around $2.7 trillion, 31% of their peak value- and this was only in the first quarter of 2009.
All in all, the average U.S. household lost nearly $100,000 due to the combined peak loss from plummeting stock and home values. The fact that stock values declined cost U.S. households $66,000 alone.
Planning for a national economic crisis is near impossible, but a good idea is to diversify your savings at the very least!
