How Will This Bear Market Impact Your Retirement?

Ready For Retirement

James Conole, CFP®

Investment Planning, Bonds, Education, Stocks, Cash, Business, Dividend Investing, Retirement Planning, Retirement, Investing, Tax Planning

5 • 706 Ratings

🗓️ 15 April 2020

⏱️ 20 minutes

🔗️ Recording | iTunes | RSS

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Summary

The recent bear market was the fastest in the history of the S&P 500, taking only 16 days for it to fall 20%. For younger investors, this is a great opportunity to buy good stocks at low prices, while for those closer to retirement, it might seem like there is no time to recover. In this episode, James shares a four-part framework which helps you to see if you are still on track with your retirement. Firstly, you need to know how much you are spending before you do a deep-dive into...

Transcript

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0:00.0	Discover the tips and strategies that will help you achieve your retirement goals.
0:09.3	I'm your host, James Canole, and this is the podcast dedicated to helping you retire well.
0:14.6	It all starts right here on Ready for Retirement. for retirement.
0:29.4	Hi, everyone and welcome to another episode of Ready for Retirement.
0:31.0	I'm your host, James Cannell.
0:35.4	And today we're going to talk about whether this market crash will impact your retirement.
0:36.4	So we just experienced the fastest bear market in the history
0:40.2	of the S&P 500. It took only 16 days for the market to turn into a bear market, which essentially
0:45.5	just means it fell 20% from a previous high. Now, the fact that we're having this, the fact that we're
0:50.9	going through a bear market, it's not unusual at all. We haven't
0:54.2	experienced one for 10 plus years, but the fact that we're in a bare market, this happens on
0:59.0	average once every five to seven years or so. What is so scary or what is causing a lot of
1:03.9	people to panic in the midst of this one is the fact that it happened so quickly. It took only
1:09.5	16 trading days for the S&P 500 to fall 20% or more,
1:13.8	and then it continued to fall after that. So if you're looking at this, you're probably thinking
1:18.9	that, yes, if I was a younger investor, I would love this. If you're in your 20s or 30s or 40s
1:23.8	even, as the market's falling, it gives you a great opportunity to buy great companies
1:28.1	that have their prices cut by 20%, 30%, 40%, or more.
1:33.6	But for people approaching retirement or for people in retirement, the concern is that you just don't
1:38.3	have the time to recover.
1:39.9	You know that, yes, this will get better over time, but the question is when?
1:43.5	And do you have
	...

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