Retired? What To Do When The Market Plummets

With a global health crisis on our hands, it’s no wonder that the markets are being affected big time. Stocks have dropped globally, with American exchanges like The S&P, the Dow and the NASDAQ falling drastically. There’s anxiety among all citizens of all ages, but for those who are no longer in the workforce, the stress levels are particularly high. So what does the state of the current market mean for retirees?

Keep Funds On Hand

All in all, the alarm bells you’re hearing in your head are probably a more severe reaction than is needed. The main thing to ensure is that your current cash needs are covered. That means not tying up all your funds in investments, but instead leaving enough accessible to keep you comfortable for the next year or two.

The Ebbs And Flows

Beyond advising citizens to free up the money needed for the here and now, financial advisors are comforting the public by insisting that though this drop in the market may seem like a severe one, the rise and fall is a built-in aspect of our economic sphere. So if investors, including retirees, just hang in there and put their anxieties on the back burner, the market will eventually bounce back. Fluctuation is the name of the game!

Plan Ahead

And if you’re approaching retirement and beginning to feel similar fears, just know that it’s all about the planning. Instead of panicking when the time hits, have a plan-of-action in place well before retirement day arrives and the next phase of life starts. So whether you’re retired or not, just remember to think in the long term, avoid going into panic mode, and focus on keeping yourself afloat and comfortable in the present. A strong market will return, and you’ll be prepared!

* We are not professional financial advisors. This should not be taken as specific investment advice. 

Get in Touch


Please enter your comment!
Please enter your name here

Related Articles

Skin Cancer: How to Examine Your Own Skin

How Prevalent is Skin Cancer? An estimated one in every five Americans is at risk for developing skin cancer during their life. The good news...

Prevent Your Dog From Drowning (seriously)

With temperatures rising, time around the pool or other bodies of water are a welcome relief for both dogs and pet owners alike. However,...

Avoid These 4 Sunscreen Ingredients

We all know that wearing sunscreen is important for our health, our skin, and our appearance. From preventing wrinkles to stopping skin cancer, sunscreen...

Tea & Heart Attacks

Yearly, 647,000 Americans lose their lives to heart attacks. While many people try to combat this with various activities, it doesn’t stop the number...

Sleep And Your Brain

A good night’s sleep is not just vital for resting and repairing your body, but is crucial for brain health too. While your body’s...

New COVID-19 Symptoms Emerge

The novel coronavirus and COVID-19 pandemic that is gripping the planet is ever-evolving. As scientists and researchers learn more about the disease, they try...