Best Retirement Planning Tips For A Bear Market
Are high inflation and the bear market derailing your retirement plans?
We spoke to several financial experts on retirement planning, considering several options that can help retirees better weather market downturns.
Start Retirement Planning Early
It’s a good idea to work with a financial advisor (i.e., CFP) for retirement planning well ahead and to review your financial plan with them periodically.
With these economic issues, you’ll have more challenges. Consider speaking with your financial advisor to review your financial plan and investment portfolio.
Avoid Panic Selling And Try To Ride Out The Storm
Emotional reactions may drive you to sell investments. It may lead to inefficient decisions.
Retirement Planning Tips
In A Bear Market
If you’re about to retire, you may want to continue working a couple of years longer. Many people want to transition into retirement by working part-time.
Delay Your Retirement
It would be wise to contact your financial advisor to review your financial goals and how your plan reflects potential market downturns.
Consult With Your Financial Advisor
When nearing retirement, you should boost your cash reserves to weather market volatility. That often means selling stocks at the bottom.
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