How Are Those Retirement Plans Going Now?
The economy keeps getting more volatile, but it's not all bad. You just may need a different attitude about working in your golden years.
Even before Russia invaded Ukraine the economy felt pretty dicey. There was inflation, a weird post-pandemic job market, and the prospect of a more hawkish Fed. Now markets are even more volatile as sanctions roil the global outlook. For anyone counting the days until retirement, it's been a harrowing ride.
Plans you made in December to retire this year may not look so good now. Your nest egg has taken a big hit if you're invested in the stock markets, with the S&P 500 down almost 9% in the last two months. So what should you do? Should you just wait a few more months to see what happens, start looking for a new job or hold on to the one you have a little longer?
Continue reading the entire piece here at Bloomberg Opinion (paywall)
Allison Schrager is a senior fellow at the Manhattan Institute and a contributing editor of City Journal.
This piece originally appeared in Bloomberg Opinion