Should You Rethink Your Retirement Plans Now That We're in a Bear Market?
Last week, the S&P 500 plunged into bear market territory for the first time in a little over two years, and not surprisingly, that has a lot of people rattled. If you're decades away from retirement, you may not be so disturbed by the state of the market. But if you're only a few years away from retirement, you may be worried that current market conditions will impact your plans for the worse.
So should you change your retirement plans in light of our current bear market? That depends on what your investment portfolio looks like.
Older workers are typically advised to shift away from stocks and move over to safer investments, like bonds, as retirement nears. They're also advised to stockpile enough cash to cover one to two years of living costs if retirement is on the horizon. And if you followed that advice, then you may not need to change your retirement plans at all.
Source Fool.com
