Three financial experts address retirees’ five most pressing worries about the recession and their retirement funds
That has been the question many retirees and people just a few years from retiring have been asking me since experts started warning about a coming recession.
They worry about their retirement accounts as the stock market continues to swing up and down as a result of President Trump’s trade war with China.
“As this conflict escalates, it is likely to weigh more and more on the stock market and the economy,” The Washington Post’s Heather Long wrote earlier this month.
Despite the market turbulence, here’s the standard advice for investors: Don’t panic. If you have a long time before you need to start using the money in your retirement account, stay the course.
Generally, financial advisers recommend that you ignore short-term market activity if you won’t need your retirement money for another 10, 20 or 30 years. But what if you need your money now?
“No one ever addresses directly, in depth, the concerns of people 65 plus who are already in retirement and what they should do in this volatile economic environment while the country has an erratic leader,” one reader wrote.
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