Seniors, Others Wonder About Financial Effects of Current Government Shutdown

PR Newswire

ATLANTA, Jan. 10, 2019 /PRNewswire/ -- Recent market fluctuations and economic uncertainties like the government shutdown will continue to trigger consumers from the Silent Generation through Baby Boomers and Gen X to seek alternative financial options to alleviate anxieties about liquidity and retirement, according to Scott Page, CEO for LifeGuide Partners, an educational resource for seniors and others searching for new ways to fund retirement.

"During the Great Recession of 2007-2009 I found myself frequently speaking and writing about unconventional methods of finding much-needed cash in the wake of a sour economy," Page says. "I honestly did not expect to be addressing that need again 10 years hence. But we're hearing from seniors and others who are panicked about everything from a rollback of deductions to the financial stresses of healthcare and social security, and even the viability of future government benefits."

After nearly 30 years of working in the insurance and financial services industry, Page has shifted gears, founding LifeGuide to provide education and perspective to seniors, their loved ones and advisors as they consider retirement options and discover untapped assets.

"Though we are consumer-focused, I'm hearing a similar story from longtime colleagues who are insurance and financial planning professionals, accountants and attorneys," Page says. "Their clients are wondering if they should delay retirement, reallocate assets or jettison some investment products altogether."

A challenge, he notes, is that economic downturns, panic and, if it happens, a recession may mean some of the assets seniors and others uncover are worth less than before. That's why he says he and his team are encouraging the folks they hear from to at least learn what their options are now, no matter if or when they act.

"I pivoted my career to a more educational role, helping seniors and those who advise them consider financial options they may not know they had," Page says. "I thought I would mostly be assisting those just before and after retirement, but the state of the economy is broadening our audience, for better or worse. I'm glad to be playing a positive role during a political and socioeconomic time that is so unfortunately negative."

Among other things, LifeGuide provides an appraisal service for existing life insurance policies. That review produces a realistic valuation utilizing proprietary analytic tools coupled with expertise and specific recommendations based on individual objectives.

"The trajectory of our economic and political environment will certainly fluctuate," Page says, "but in the meantime it can't hurt for all of us – especially seniors – to learn about every financial option. If nothing else, it provides peace of mind and enables better go-forward financial decisions, especially for those who cannot delay retirement."

About LifeGuide Partners and Scott Page

Scott Page, author of It's Never Too Late: Getting Older, Wiser, and Worry Free in Our Golden Years, is an expert on retirement and financial issues facing seniors, Boomers and the Silent Generation. He has appeared on 20/20, NBC Nightly News and Fox, and been featured in The New York Times, The Wall Street Journal and Newsweek. He wrote regularly for Huffington Post on money matters and recently began a similar gig for the Forbes Finance Council. Page now focuses exclusively on helping seniors take advantage of new financial opportunities that have become available in recent years. For more information or an appraisal of a life insurance policy, visit: www.LifeGuidePartners.com.

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