On top of the existing internal problems of «lowflation,» shorthand for ultra-low inflation, weak demand and
anemic credit
growth, the deterioration in the external backdrop over much of 2014 — rising geopolitical tensions with Russia, and the slowdown of the Chinese economy and many other emerging markets — has made a rapid
return to meaningful
growth across the eurozone unlikely, in our view, despite some positive signs, including the stabilization of many peripheral economies and the boost in competitiveness from the weaker euro.
For example, if the stock market tanks or delivers a string of
anemic returns, especially early in retirement, the combination losses or low principal
growth and withdrawals could so deplete your nest egg's value that you might run out of dough sooner than anticipated.