If you’re currently planning your retirement for 2021, you’re probably concerned about what that might look like. In the middle of a pandemic, there are some uncertainties in how the financial markets will perform in the short term. In short, this might not seem like the optimal time to retire. Even if you’ve been planning for a long time, the upheaval alone in the last year might unnerve you.
There are ways to safeguard your retirement during a recession. Anyone who has 2021 earmarked for retirement has been planning and saving already. And you should have been planning with the idea that the markets will move wildly. However, you may still want to wait to recoup any investments you may have lost or to grow accounts that aren’t as high as you’d hoped.
You might put off your retirement until things are more stable. However, that’s not your only option. Consider the fact that your retirement period might span decades. If you’ve already planned well for the ups and downs that can come during that timespan, retiring in 2021 might still be well within your grasp.
You’ve planned for your retirement. You’re ready to start the next journey of your life. If you’ve done your due diligence and have planned wisely, you can still launch as planned. You may also consider postponing for a bit just to make sure that your savings are solid enough for permanent retirement.
Here are some tips to help you make sure you’re retirement ready:
Retirement is something you’ve planned for and should be excited to begin. There’s no reason to put it off due to a recession, though you may want to be more frugal or creative to make sure that your retirement fund is enough.
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