{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"The Paul Truesdell Podcast","title":"The Bucket List – Sort Of ","html":"","width":"100%","height":180,"duration":995,"description":"The stock market can be a wild rollercoaster. Over the past 40 years, we’ve seen some of the largest market drops in history, and while the market has always recovered, the journey back to baseline isn’t always a quick one. When you pair that with the fact that many of us, particularly those in our 70s and 80s, may not have the luxury of waiting years or even decades for a full recovery, the stakes become even higher. This is why having contractual income provisions in place—ones that guarantee steady income—becomes not just important, but essential. Let’s take a look at some of the most significant stock market drops in the last four decades and see how long it took to bounce back. For instance, during the 1987 crash, known as Black Monday, the market dropped 22.6% in a single day. It took about two years to recover to its previous high. The dot-com bubble burst in 2000 wiped out 49% of the market, with the recovery taking seven years. The 2008 financial crisis? It knocked the market down by 57%, and it took six years to recover. And then there's the COVID-19 crash in 2020, which, despite being sharp, recovered relatively quickly within a matter of months. Each of these instances carries its own lessons, but one thing is clear: market drops can take a long time to mend.Now, let’s contrast that with the average life expectancy of someone in their 70s or 80s. The average 70-year-old man in the U.S. today can expect to live another 14-16 years, and a 70-year-old woman can expect to live another 16-18 years. In our 80s, the numbers drop, of course, but we’re still looking at an average of 7-9 years of life expectancy. In comparison to stock market recoveries, these timeframes start to paint a concerning picture.If you’re in your 70s or 80s and you experience a significant stock market drop, it’s entirely possible that you might not live long enough to see a full recovery. I know that sounds harsh, but it’s a reality too many people don’t take seriously enough. Many...","thumbnail_url":"https://img.transistorcdn.com/115-XsjkdwCpJ99xv-8oZ76t6jr8ScWEC5MYSKzL0ig/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS82MTUx/OWRiNTc0NTk0Y2Nk/M2VjYTliMGVhN2Zm/YTZkZi5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}