on Aug 18th, 2007Market Turmoil Leaves Fixed Income Retirees Sweating IRAs
As the financial markets explode and implode, what’s a retiree on a fixed income supposed to do? Jump out of a plane without a parachute? How about packing up your beach gear and hitting the beach. Why worry when you can enjoy the sun and go for a nice dip when it gets too warm. Here’s one adviser’s advice:
First, “take the long view — retirement is for the rest of your life,” says Ron Kelemen, a certified financial planner in Salem, Ore. “You shouldn’t be making colossal financial decisions” based on a few days of market turmoil.
Market Churn Tests Income-Based Retirees; Safe Plays Are Clouded