UK Pound Plunges With EU Exit and What That Means For Your Retirement

I never really understood why the average “investor” and retirement account holders usually place their trust in something as volatile as the “markets”! Especially when the average return is far lower than the typical multi-family real estate deal and the risk is several times greater.

Case in point, the United Kingdom has voted to exit the European Union, becoming the first nation to leave the economic, political and cultural bloc. The news sent shockwaves through the global economy.

Global markets immediately plummeted in reaction to the referendum results. The British pound nosedived to its lowest valuation in 30 years, as the nation’s stock market — FTSE — reported 8 percent losses within the first few seconds of trading Friday morning.

Economic analysts are predicting the biggest single-day decline since the 2008 financial crisis. Bank of England governor Mark Carney promised 250 billion pounds ($347 billion) to stabilize the economy. Other European markets took heavy hits, and European Central bank pledged to provide liquidity for domestic and foreign currencies to prevent panic.

Elsewhere, Japanese stocks tumbled 8.2 percent to their worst level in five years. The Nikkei briefly halted futures trading for the first time three years. Hong Kong stocks followed suit with a 4.7 percent plunge. Losses are expected for U.S. stocks, with early estimates predicting a five percent drop for S&P 500 and Nasdaq futures.

Join me and 1,000 other top level real estate investors at THE largest gathering of high level investors of the year at Ultimate Partnering 8 this August in Boston and get of the ride and into the driver’s seat because I’ll also be giving away a brand new BMW to one lucky attendee! You have nothing to loose and everything to gain!