Is it more difficult to retire in a bear market?
Everyday Wealth
Jean Chatzky
2 • 935 Ratings
🗓️ 8 September 2022
⏱️ 7 minutes
🧾️ Download transcript
Summary
Jean and Soledad, joined by Edelman Financial Engines wealth planner Isabel Barrow, discuss perception vs reality when it comes to retiring in a bear market and how attaching a number to your retirement plan may not be the best approach.
Investing strategies, such as asset allocation, diversification, or rebalancing do not assure or guarantee better performance and cannot eliminate the risk of investment losses. There are no guarantees that a portfolio employing these or any other strategy will outperform a portfolio that does not engage in such strategies. Funds and ETFs are subject to risk, including loss of principal. All investments have inherent risks. There can be no assurance that the investment strategy proposed will obtain its goal. Past performance does not guarantee future results.
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Transcript
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| 0:00.0 | This is Edelman Financial Engines Everyday Well, with Award-winning journalist Soledad O'Brien, |
| 0:13.0 | personal finance expert Jean Chatsky, |
| 0:15.0 | and Edelman Financial Engine's wealth planner Isabel Vero. |
| 0:20.0 | We were talking about recent retirees reentering the workforce because of course post-pandemic when it might have seemed like a good time retire. |
| 0:29.4 | Now with all that's happening in the markets some some things going up, namely prices, some things |
| 0:33.8 | going down, namely your account balances, it seems like maybe you need to unretire. |
| 0:39.6 | Would you say that at this moment it's more difficult to retire or are people just more anxious about it? |
| 0:46.0 | I think the perception is out there that hey things are really negative maybe I shouldn't retire just because |
| 0:52.2 | I see in the news that things are negative. |
| 0:53.7 | It doesn't really mean that your reality is that things are negative for you. |
| 0:57.9 | It doesn't mean that your expenses have gone up exponentially or that your income is at risk or that you know all of a sudden your |
| 1:05.0 | financial plan isn't going to work anymore if you're not working with a financial planner |
| 1:09.0 | or if you're not planning at all even on your own you, it's the fear of the unknown and the |
| 1:13.2 | perception of things being negative that can drive some of those decisions or |
| 1:17.5 | inability to make a decision. But it's really important to remember that this is a snapshot in time and when you retire you don't |
| 1:25.8 | all of a sudden say all right I'm retiring let's cash it out you know I'm I'm |
| 1:30.1 | 65 I'm retiring of a million dollars just give it to me in coins and I'm going to, you know, blow it all tomorrow. |
| 1:36.3 | So that sounds amazing actually. |
| 1:38.9 | It would be fun, but you know, that's not really how we do it. |
| 1:43.0 | So when you retire, you might have another 40 or 50 years to go. |
| 1:48.0 | So it's not as much what matters in that moment today, |
| 1:52.0 | the day that you retire, what your portfolio is doing. in that |
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