The negative market reaction to the COVID-19 pandemic and ensuing economic slowdown might have retired Americans and those expecting to retire in the next five years feeling anxious. What do the news reports about entering a “bear market” mean for those with money for retirement invested in the stock market? Does the usual advice of “do nothing and ride out the fluctuations” still apply to this scenario?
The overall answer from financial advisors seems to be, yes. However, there are a few things you can consider and might do to ensure your immediate and long-term retirement needs are met.