It finally happened. The U.S. debt rating has officially been downgraded and everyone is going to be impacted by this, but especially those who are planning to retire. Hi, everyone. I’m Taylor Kenney with item trading. And today we’re going to be talking about how the U.S. debt downgrade will directly impact your retirement plans. There are so many ways that this hurts your financial plans, but today we’re going to focus on how we got here, what actually changes and how you can prepare today to protect yourself.

CHAPTERS:

0:00 US Downgrade
1:50 Debt Downgrade – Be Informed
3:20 AAA – AA+ Does it Matter?
6:16 CBDC on Retirement
17:08 China CBDC Social Security
8:06 Your Retirement
8:42 Your Options

SOURCES:

https://www.forbes.com/sites/palashghosh/2021/05/06/a-third-of-seniors-seek-to-work-well-past-retirement-age-or-wont-retire-at-all-poll-finds/?sh=5c723ebf6b95

https://www.ssa.gov/pubs/EN-05-10024.pdf

https://cryptonews.com/news/china-looks-add-digital-yuan-functionality-social-security-cards.htm

https://www.kitco.com/news/2023-06-30/China-to-add-digital-yuan-payment-functions-to-social-security-cards.html

https://finance.yahoo.com/news/congress-again-ignores-solving-social-securitys-looming-insolvency-issues-114709476.html

https://www.politico.com/newsletters/morning-money/2023/01/09/a-troubling-signal-from-americas-retirement-accounts-00076960

https://money.usnews.com/investing/articles/de-dollarization-what-happens-if-the-dollar-loses-reserve-status

https://www.atlanticcouncil.org/blogs/econographics/practice-makes-perfect-what-china-wants-from-its-digital-currency-in-2023/

https://www.cnn.com/business/live-news/stock-market-news-today-credit-downgrade/index.html

https://www.theguardian.com/business/2023/aug/02/us-stock-markets-fitch-credit-rating-downgrade

https://www.npr.org/2023/08/02/1178215888/fitch-downgrade-credit-rating-deficits-debt-economy#:~:text=At%20its%20most%20basic%2C%20credit,debt%2C%20like%20on%20credit%20cards.

https://fortune.com/2023/08/02/9-here-remaining-aaa-countries-after-fitch-stripped-us-of-top-ranking/

https://thehill.com/business/4134013-white-house-lawmakers-express-anger-surprise-at-downgrade-by-fitch/

https://www.pbs.org/newshour/economy/u-s-credit-rating-cut-to-aa-by-fitch-citing-debt-and-political-divisions