USA Today – June 17, 2014
David Schneider spoke with USA Today reporter Rodney Brooks about how to live through an unexpected financial challenge that strikes during retirement.
When disaster strikes David indicates “The first thing you need to do is some serious planning”, suggesting that you “Start by looking at your expenses, so you can figure out what the change means” adding “Is it a big event that necessities a radical change in strategy, or is it something that a small change in strategy might take care of?”
In an extreme scenario, when all someone has is Social Security he suggests “they have to consider even leaving the country and going where the cost of living is much lower. It may not be for some people. It is a radical solution. A less radical is solution is to move to a lower-cost part of the country.”
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