Retiring soon? Here’s how you should handle these crazy market drops

Investors have been on a roller coaster the past month, but near-retirees are probably wondering how they can get off the ride — and fast. Failing to do so could lead to a less-than-ideal nest egg in retirement.

Some clients have called with concerns, said Matt Bowden, a financial planner at RFC Financial Planners in Ann Arbor, Mich. But he, like many advisers, have drafted financial plans that incorporate the ups and downs of the market, and safeguards retirement assets for the long haul. Most financial plans, if done correctly, are meant to weather this type of market volatility.

This is also a good time to see how much of a portfolio or assets are in conservative funds or cash, said Alex Reffett, co-founder of East Paces Group in Atlanta. “I would recommend having five to seven years of cash flow in very conservative assets that aren’t affected by short-term market volatility,” he said. This way, “you will feel confident that you can ride out market volatility, even in serious recessions like 2008-09.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here's why the bull market's 11 year record run may be over soon - Business InsiderThe stock bull market finds itself in crisis mode as it turns 11 years old. Here are the 4 reasons why it's lasted so long — and why the end could be near. China did it. So do we get a refund for bailing out the banks?
Source: BusinessInsider - 🏆 729. / 51 Read more »

Stock market live updates: Futures point to 5% drop at the open, oil tanks 20%, 10-year hits record lowU.S. stock futures are pointing to major losses on Monday. No one is losing any money today. It’s all in the imagination. StockMarketCrash2020 You have not lost until you sell your shares. Hang in there!!
Source: CNBC - 🏆 12. / 72 Read more »