This article appears as part of Casey Weade's Weekend Reading for Retirees series. Every Friday, Casey highlights four hand-picked articles on trending retirement topics and delivers them straight to your email inbox. Get on the list here.
You face an array of retirement risks that might cause worry, all of which stem from uncertainty. While there is no crystal ball to reveal what’s on the horizon, taking an objective approach to today’s top retirement woes can help you feel more at ease.READ THE ARTICLE
A few of the biggest questions on retirees’ minds (and what you should know about them) include:
📌 Is inflation out of control? You might hear today’s economy often compared to the 70s, but there’s no surefire sign we’re headed in the same direction. In fact, some industries benefit in times of high inflation.📌
Will interest rates continue to rise? We are likely past the majority of interest rate increases. As such, taking a ladder approach to fixed income investments now could be wise.
📌 Is the stock market in a slump, or worse, a bear market? After an 11-year bull market, a dip was inevitable. Further, bear markets are estimated to last less than two years, so taking the long view and holding to your personalized strategy is key.
📌 Will taxes go up or change dramatically? Tax laws are ever-changing. However, past podcast guest and leading tax specialist, David McKnight, warns the tax train is coming. Being proactive with your tax planning is critical.
📌 Should I be investing in new technology that I don’t really understand? There will always be a new hot commodity, but it doesn’t mean it’s an investment vehicle you should pursue. Keep risk tolerance and your long-term goals front of mind.
You shouldn’t let uncertainty trap you into a state of analysis paralysis. Sometimes we need to get out of our own head, and a good coach may be just what the doctor ordered.