After the stock market dropped by nearly 50% in the crash that started in 2000, and nearly 60% in the crash that started in 2007, many investors, especially those close to retirement, realized they needed to take a different approach to saving for retirement.
Unfortunately, despite these dramatic drops, many financial advisors were still advocating traditional stock market-based investment strategies, or they simply took the easy way out and invested their clients’ hard-earned money in bond mutual funds.
