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Outlook for retirees

By Terry Savage on March 23, 2020 | Financial Planning / Retirement

I’m 62 and retired about 6 months ago with a comfortable investment portfolio and cash reserves. I’ve been working with financial advisers for years and have (or at least had) a good plan for retirement. Given the unprecedented and precarious situation we all find ourselves in right now, many of us are worried that all our our years of hard work and saving will be wiped out. Any insight/advice you would have for retirees, especially early retirees, at this point?

Terry Says

I have been directing my comments to this group — so dear to my own heart — for years. These are the people who saved and invested for their future. Depending on how this crisis is handled by our government, many people will be revising their retirement plans — even after being retired. Less travel, for sure. Cutting spending, likely. And we will see what else is required. But America will come back and so will the markets. As long as you can ride it out and have a good plan, there is no reason to panic!

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