The Danger of Retiring During a Recession | Recap + Highlights - Ep. 259

Jun 30, 2019

It’s Sunday, which means...It’s recap time!

The theme for this week was: The Danger of Retiring During a Recession. The problem with retiring during a recession is that your investment portfolio will also likely drop - 10, 20, or even 30% or more, which can derail your plans for retirement.

Here’s what we covered this week:

• The danger of retiring during a recession...explained
• Why you should consider rebalancing and reducing your stock allocation...right now!
• How you can stress test your retirement
• Keeping enough cash on hand to help you get through a rough patch in the stock market
• And...a discussion of what you would be willing to give up in order to protect your portfolio - would you be willing to cut your spending or work part time? If so, it could potentially mean the difference between maintaining financial security in retirement, or relying on social security.

If you missed any of these episodes, you can find them on iTunes or Google Play by searching for the “One Minute Retirement Tip with Ashley”.

Tomorrow, come on back, because we’re starting a brand new theme: Non-Retirement tips. Yes, that’s right. It’s the 4th of July next week, the official start of summer, and you couldn’t care less about your retirement...come on, be honest! You’re too busy getting tipsy at your neighbor’s BBQ and fireworks bash to care about what I have to say about your retirement. So that means I’m bringing you a few non-retirement tips. I’m not going to give away much here, because I want you to tune in, but I hope you’ll find it valuable and insightful, even if it’s officially non-retirement.

That’s it for this week! Thanks for listening.

My name is Ashley Micciche and this is the “One Minute Retirement Tip”.

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance, wealth management, fee only financial advisor, financial planner, retiring soon, retirement concerns, recession