Planning for retirement in uncertain times

Sunday, September 01, 2024 04:31 AM - Comment(s)

Planning for retirement in uncertain times

Consider it the new normal: planning for financial success in uncertain times. While it can be tempting to hold off on making decisions or taking action, waiting to see what changes future legislation may bring isn't likely to help you reach your retirement goals. In fact, now may be an opportune time to plan for the future and make sure you're on track for the retirement you've always dreamed of.

"Trying to time the market is a loser's game," says Annuity Pros. Instead, investors should create a long-term strategy that guides them through the expected ups and downs of the market—as well as more tumultuous conditions.

What that plan looks like depends on the investor, their retirement goals, and how close to retirement age they are.

Soon-to-be-retirees are in the "retirement red zone," like a football game. "Just as a football team can't afford a turnover when they are inside the opponent's 20-yard line, an investor can't afford a turnover when they are within a few years of retirement". If you're close to scoring your retirement touchdown, Annuity Pros suggests dialing down the risk in your portfolio. That way, you're protected if the market falls closer to your retirement.

Although younger investors have time on their side, since they can bear more fluctuations in the market, they too should be playing the long game, says Annuity Pros. "Building a well-funded retirement is a marathon, not a series of sprints". "Take a long-term perspective and your odds of success increase dramatically."

Individuals and businesses who would like to connect with Annuity Pros can get in touch instantly via our enquiry form.

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