Is recession talk worrying you? Here’s how near- and current retirees can prepare for their worst fears.
Talk of recession is never comforting, especially for people who are on a fixed income or who are looking to retire in the next few years.
“It is a difficult time in the market, and with a recession most likely on the horizon, it is even more challenging for those close to retirement or just retired,” said Devin Pope, a certified financial planner with Albion Financial Group.Checking in on asset allocation is always helpful, as it shows how much of your portfolio is invested in higher-risk versus conservative options.
As with any market downturn or volatility, advisers caution not to respond emotionally by making drastic changes. Now is simply the time to review.