The Informed Investor

How to Manage Your Investments When Close to Retirement

Investment Counsel Company

August 24, 2022

If you are nearing retirement, many emotions may be bubbling to the surface. Will the investments you’ve made over your life sustain you? Do you need to be investing more aggressively? Has your risk tolerance changed? And how should you be investing at this stage in life? Here’s an overview of what to know about managing your investments as you prepare to retire.

  1. Markets Matter

Before the COVID-19 pandemic, surging inflation, and the war in Ukraine, the stock market was continually rising. As of this writing, Americans have lost half a trillion dollars in wealth in the first six months of 2022.  Although some speculate that the losses will be pared by the end of the year, there is no denying that many investment portfolios have taken significant losses. As such, if you’re approaching retirement, further investments should be discussed with a trusted, experienced financial advisor who can provide you with objective, unbiased guidance.

  1. Review Your 401(k) ASAP

If you have not reviewed your 401k this year, it’s time to schedule a consultation with your wealth manager or financial advisor. It is generally not advisable to change your investment strategy based on several months of subpar returns, but it may be time to evaluate your risk tolerance as you near retirement and reallocate some of your investments. This is where it is very important to consult with an investment expert who can provide perspective and an overview of the pros and cons of any changes to your investment strategy.

  1. Consider Opportunities

Some believe that more money may be made over the long term by investing in a bear market. This does not mean that it’s right for you. It does mean that it is worth discussing with your financial advisor, particularly if you are retiring relatively young, or if you plan to have new streams of revenue in the future.

  1. Look to History

Bear markets, such as we are experiencing now, are not an anomaly. Historically they come along once or twice a decade. They aren’t historically very long-lasting, averaging two years or less. Knowing that the market goes through peaks and valleys should reassure you that your investments should recover, and your patience will pay off.  If you’re close to retirement, talk with a financial advisor who has demonstrated long-term success for clients in a variety of markets who can provide you with perspective and judgment to help you decide on your best course of action.

  1. Avoid Abandoning Your Investment Strategy

If you are nearing retirement in today’s bear market, you should not abandon the strategies that have fueled your success thus far. If for example, you’re investing a set amount every month, three months, or six months, this can be a smart move in the long term, as it allows you to continue investing in your strategy.  Consult an experienced, well-respected fiduciary investment advisor to help you prudently preserve and grow your wealth.

Talk to a Financial Advisor About Whether Your Investment Strategy Should Change as You Near Retirement

Retirement is undeniably one of the biggest life changes you will experience. Whether or not you need to make adjustments to your investment strategy or retirement plan is a decision worthy of careful consideration. While today’s economy presents significant challenges, it may also present significant opportunities.

If you have $1,000,000 or more in investable assets and would like to put our investment management expertise to work, to protect all that you’ve worked for, and are soon to enjoy in retirement, contact us today at (702) 871-8510.


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