Near Retirement? 3 Strategies to Consider In a Market Downturn

When ​the ​market ​is ​down, ​it ​can ​make you ​feel ​pretty ​uneasy. ​Emotions ​can ​rise and panic can feel like the natural response, especially when you’re nearing retirement. You ​spent ​decades ​just ​saving ​to ​get ​to ​this ​point, ​and ​now ​you're ​watching ​your ​retirement ​savings ​drop ​in ​value.

You ​might ​be ​wondering ​what ​changes ​you should ​make. ​Should ​you ​move ​to ​cash? ​What ​action ​should ​you ​be ​taking ​with ​your ​accounts ​as ​you ​watch ​your ​accounts ​drop ​in ​value ​and ​you're ​getting ​closer ​to ​your ​retirement ​date? We ​want ​to ​focus ​on ​strategies ​that ​can ​help ​our ​plan ​during ​these ​high ​emotions ​versus ​letting ​emotions ​potentially ​hurt ​our ​plan.

This video is going ​to ​draw ​out ​some ​simple ​and ​practical ​strategies ​you ​can ​utilize ​during ​a ​market ​downturn ​that ​can ​actually ​help ​your ​retirement ​plan ​instead ​of ​hurting ​it.

Here’s some of what we discuss in this episode:

⚖️ Strategy #1: Rebalance your portfolio to take advantage of market shifts

💵 Strategy #2: Increase contributions when prices are low

🔁 Strategy #3: Use Roth conversions to lock in tax-free growth

📉 What happens if you miss the market’s best days

🧾 Roth alternatives when your income is too high

 

Look at the chart we referenced: https://www.hartfordfunds.com/practice-management/client-conversations/managing-volatility/timing-the-market-is-impossible.html 

 

Company website: https://sierensfinancialgroup.com/

Podcast website and resources: https://maxretirementshow.com/

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Contact our team: [e-mail]

Schedule your no-cost introductory call: https://sierensfinancialgroup.com/schedule-a-meeting/

 

Join us for our next financial workshop: https://sierensfinancialgroup.com/

 

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Unlocking Hidden Tax Savings Guide: https://maxretirementshow.com/taxes/

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