: 5 ways retirees and savers can navigate 2023

by | Dec 14, 2022 | Stock Market

With 2023 posing challenges such as a potential recession, more market volatility and further interest rate increases, retirees and those saving for retirement may find it safer to stick to the basics and hunker down for another turbulent year. Here’s five strategies to get through the year. ‘Ignore the noise’

“With the cross current investors are facing right now – pending potential recession, inflation, higher interest rates and drop in the markets – retirees and savers should continue to focus on the long term,” Rob Williams, managing director of financial planning at Charles Schwab. “Have a plan and ignore the noise in the market.” With the potential recession looming, investors will likely be more emotional, Williams said. “Investing is an emotional thing. Retirement is an emotional thing. Saving and investing in your own retirement can be very stressful,” Williams said. This is the time to stick to your long-term plan that reflects your risk tolerance, said Matt Brancato, chief client officer for the institutional investor group at Vanguard. “This coming year is not going to be without challenges. Stay focused on the long-term,” Brancato said. Read: What’s the best way to take RMDs from your retirement accounts? Experts rate the top 3 strategies. Safeguard money ne …

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