Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Retirement Planning > Retirement Investing

Now that the recession is technically over, how has it changed your plans for retirement?

By Staff Writer

X
Your article was successfully shared with the contacts you provided.

It’s over? It sure doesn’t seem like it–there are an awful lot of people still out of work! As for us, we have had to adjust our spending in retirement due to stock losses. The grandkids are going to have to be happy with a little less in the way of gifts for a while. We are lucky, though, because we have a sharp advisor who helped us minimize our exposure when the recession first started. It could have been a lot worse.
-Meredith P., 68, Colorado Springs, Colo.

I am lucky because I have been retired for 8 years and I haven’t had to touch my savings or 401(k) funds. So, I was able to avoid selling assets during the Great Recession, and I plan to hang on until things have recovered a little more. However, I am concerned about government spending and inflation down the road. That could ruin everything.
-Wade R., 73, Raleigh, N.C.

The recession didn’t hurt us as much as it did some people. We don’t own a lot of stocks, mostly bonds and T-Bills. I am retired from the Army and draw disability from the VA. Also, my wife and I both get Social Security, so we have an income to rely on. So, as long as the government doesn’t go under completely, we should be OK.
-Ted S., 77, Santa Ana, Calif.

We took a hit during the recession, that’s for sure. I was forced to retire from a well-paid position earlier than I had planned. Luckily, I did find another job pretty quickly but at a reduced salary. I had no choice but to take it because I couldn’t be without health insurance. We have always saved a large percentage of our income, but a lot of that vanished in the market crash. So, I have decided to work a little longer than I had planned.
-Everett C., 62, Warren, Mich.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.