By Tara Siegel Bernard The New York Times
You’ve heard it before: When the markets become erratic, or seem poised for a prolonged downturn, the best thing you can do is nothing at all.
The recent volatility in the stock market can make older investors feel vulnerable. Here are some strategies to make sure your money lasts as long as you do.
But if you are on the cusp of retirement — or, perhaps worse, newly retired — a turbulent stock market can make you feel particularly vulnerable.
While there is some validity to those feelings, it’s more productive to redirect any panic into prudence, which will help ensure your money lasts longer.
For older people invested in stocks, the performance of the market in the early years of your retirement can have a lasting effect on your portfolio, which will remain a dynamic entity for perhaps three more decades. If you have to start selling investments when they are worth less, you’ll have to sell more shares to get the cash you need — and the repercussions build on themselves.