The recent market volatility has affected just about everybody’s financial and investment situations – so, if you were planning to retire soon, will it still be possible?
Of course, with so many people’s jobs being affected by the coronavirus pandemic, your retirement plans may have been thrown into confusion. But assuming your employment is stable, you’ll need to review your retirement goals and the progress you’ve made toward achieving them, so you can determine what moves, if any, you need to make.
Then, ask yourself some questions. For starters, are you flexible enough to make some changes to your retirement lifestyle? If you can find ways to make it less costly, you may not need to change your current investment strategy significantly.
Also, if necessary, are you willing to work longer than you had originally projected, so you can put more money into your IRA and 401(k)?
Here’s another question: When should you take Social Security? The longer you wait, the bigger your monthly payments.
Even in the midst of uncertainty, you still have choices. Consider them carefully and make the decisions that work for you.
If you have any questions, please contact me at 980-859-2549 or by e-mail at Brandon.Monette@edwardjones.com
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor.