The Market Downturn and Your Social Security Strategy
These are strange times, indeed. As 2020 dawned, who’d have seen us plummet into a bear market in a space of less than three weeks? For that matter, who would have thought we’d be self-quarantining ourselves and implementing something called “social distancing” in our everyday lives? But that’s the reality, and an even more frightening aspect of it is the impact that those on the cusp of retirement face as their nest egg dwindles.
Bur don’t despair! There are steps you can take to overcome part of the long-term effects on your future cash flow. A post by NerdWallet columnist Liz Weston offers some thoughts that might help you out. For example, Ms. Weston highlights the importance of maintaining a diversified portfolio, as well as re-thinking the “4% rule,” and deferring Social Security benefits to maximize your payout. Read her post here…