Preparing for a Bear Market
So, what happens if you retire during a bear market? Or if – and when – there is volatility? Luckily, there are ways to help protect yourself when retirement planning in a volatile market. Generally, as someone gets closer to retirement, they’ll want to limit their risk exposure. They might invest less in stocks and more in bonds. For some retirees, an annuity can act as a steady and predictable source of income for a certain period of time, or their entire lives.
Whatever the best plan is for you, it’s probably not to panic in times of market volatility. This is because decisions based on the emotions of the moment tend not to be the best decisions for the long term. In the end, no one can predict where the market will be in a few months, let alone in 20 years, but it’s likely that the recent market drops won’t be the last you’ll see in your lifetime.
There are many experts out there writing about what people nearing or already in retirement should do with their money to keep it safe. Some of it might be good advice, but the problem is that it may or may not apply to you and your particular financial situation. Knowing all possible options for your money and considering your risk tolerance can help you make the right decision for yourself in the long-term.
Retirement plans are not one size fits all, especially when it comes to protecting yourself from market volatility. We can take the time to learn about your unique retirement goals and risk tolerance, and create a plan for a 30 plus year retirement.
3 Things to Know Before Making Summer Travel Plans
The COVID-19 pandemic has resulted in many things, including canceled trips. Americans are now wondering about summer travel plans, and if it’s wise to make them before the country fully reopens. Just because everything isn’t completely back to normal yet doesn’t mean you can’t or shouldn’t take a vacation this summer – even if it means staying closer to home than you originally planned. Here are three things to know before making summer travel plans.
Can and Will You Retire in a Crisis?
Life is unpredictable, and there are a number of events that can impact our finances, from global pandemics to personal crises. And while adjustments sometimes may need to be made to get back on track, no one wants to put off an event like retirement because they feel forced to. It’s important to take stock of what you have and what you’ll need if you’re nearing or entering retirement. No rule says you must put off retirement, or that your desires are beholden to the state of the world when you reach retirement age.
3 Ways to Stay Safe As We Get Back to Normal
America is starting to reopen, but that doesn’t mean the threat of the coronavirus is gone. While we can all be thankful for looser social distancing measures, it’s still important to think about safety. Here are 3 ways to stay safe as we get back to normal.