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With coronavirus shutdowns wreaking havoc on the global economy, investment portfolios are also getting battered. The S&P 500 is down more than 10% since the start of the year.
While that’s unpleasant for most investors, it’s especially devastating for retirees who count on their investments for income. And when those declines come at the beginning of retirement, they can permanently lock in a lower nest egg, known as sequence of return risk.
“The best thing to do is not take money out when the market has gone down,” said Mark Orr, a certified financial planner with Retirement Wealth Advisors and author of “Retirement Income Planning: The Baby-Boomers 2020 Guide to Maximize Your
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