(Just The News)—California Gov. Gavin Newsom signed a budget emergency proclamation, authorizing the state to access $17.6 billion in its budget stabilization account as he signed a record $321 billion budget.
In the 2018-2019 fiscal year, the last year before Newsom’s governorship, the state budget was $201 billion, meaning the state’s budget has grown 60% over the last five years while the population has slightly declined.
“Largely due to the federal government’s sweeping tariff policy, the 2025 May Revision forecast of the California economy projects a period of below-trend growth and rising unemployment (‘growth recession’) and a General Fund revenue forecast downgrade by $5.2 billion in fiscal years 2023-24 through 2025-26,” wrote the governor.
While Newsom’s order blames the Trump administration for the state’s economic slowdown, federal data shows California lost a net 80,300 jobs in 2024, and had shed 173,000 private-sector jobs between January 2023 and December 2024, suggesting the state’s economic woes predated the Trump administration.
38.2% of Californians are so low-income they qualify for Medi-Cal, which has a monthly income threshold of $1,801, or $21,612, or about half of what one would make working at a fast-food restaurant full-time.
In March, nearly half of all new jobs were from the state’s In Home Supportive Services program, a welfare program by which disabled or elderly Medi-Cal beneficiaries use taxpayer money to employ household members for up to 70 hours a week for household tasks, including a boost for overtime pay.
Nearly three quarters of a million Californians are now classified as employed IHSS providers.
The Biggest Threat to Your Retirement Is Actually a Very Good Thing
When you look at the headlines today, you’ll see experts in the retirement industry warning about big threats to your financial security:
- De-dollarization and the rise of BRICS
- Soaring national debt
- Unstable interest rates
- Weakened U.S. dollar
All of these are real concerns. But they aren’t the biggest threat to your retirement savings. The true risk isn’t political, monetary, or global.
It’s longevity.
Why Longevity Is the Silent Threat
For most of human history, the problem was the opposite — life expectancy was short, and few people even reached retirement. Today, thanks to medical advancements, healthier lifestyles, and better living conditions, people are living longer than ever before.
And while that’s a wonderful thing, it comes with a financial catch: Your retirement account has to last far longer than you might expect.
- A 65-year-old couple today has a 50% chance that one of them will live to 90.
- Some projections suggest that many of us will live well into our 90s, even 100+.
- This means your nest egg may need to stretch not for 15 years, but 25, 30, or even 40 years.
That’s where the real danger lies: running out of money before you run out of life.
The Retirement Equation Has Changed
While market volatility, debt crises, or central bank policies may feel like the scariest threats, they’re temporary storms. Longevity, however, is a structural shift. Every extra year of life is another year of expenses, another year of inflation erosion, and another year of financial pressure.
If your retirement plan doesn’t account for longevity, you could face tough choices later in life — downsizing, working when you’d rather not, or becoming financially dependent on others.
How to Take Control
The good news? Longevity is a blessing — as long as you’re prepared for it. With the right planning, your retirement savings can work for you instead of against you. The key is learning how to protect your wealth, outpace inflation, and ensure your savings grow even as you live longer.
That’s why our friends at Augusta Precious Metals created a free resource to help you get started:
👉 Get Instant Access to the report, “How to Take Full Control of Your Financial Future”
This brief report will show you practical strategies to safeguard your retirement from the biggest threat of all — the one that comes from the gift of living longer.
Don’t let longevity catch you unprepared. Take the steps today to secure tomorrow.
