What should I be doing right now during this market downturn?
First things first, don’t panic. There are resources to help you stabilize your retirement income avenues. Here are three things you should consider doing when the market is declining:
1. SCHEDULE A RISK EXPOSURE REVIEW: This review will tell you just how much of your income can be affected by a market downturn. This also can give you some clarity on whether now might be a good time to make some adjustments or stay the course.
2. REQUEST A RETIREMENT INCOME ANALYSIS: This is an analysis where we look at the different sources of income you may use for your retirement.
3. DEVELOP A HOLISTIC FINANCIAL PLAN: This is what we call our Guided Planning System® (GPS). You can sit down with one of our wealth advisors and review all aspects of your financial plan in order to develop a sound financial strategy that is designed to hold up – regardless of what happens in the markets.
We’re Here to Help
Have questions about this week’s content, or need help with your financial plan? We’re here to help! Simply call our office at (504) 832-9200 to schedule a complimentary Guided Planning System® consultation today or press the Schedule a Visit button on the top right of our site!