October 12, 2022

The pandemic has turned the world upside down. For some, it was a matter of simple financial survival: checking in regularly, keeping an up-to-date estate plan, and making decisions about what they wanted the future of their work to look like. For others, however, there are now long-term fears emerging about what this means for investments, savings, and retirement.

One recent study from Nationwide found that only 39% of investors are optimistic about the upcoming 12-month outlook. Relatedly, less than half of investors and financial professionals have reported optimism.

The survey also identified three major fears coming out at the top of the list for investors and investment professionals alike: taxes and inflation, recession concerns, and volatility.

The truth is that all three of these are legitimate concerns and that all of them may pop up as issues throughout your investment journey. Every investor knows there are different things to be aware of and that ups and downs are normal. Knowing this is half the battle because it allows you to make and adapt your game plan as needed. Planning and discussing changes in investment plans are some of the best ways to regain control of what you want out of your strategy.

One of the most challenging things for people in this time of uncertainty affects those 5-10 years from retirement. It’s possible that your job situation changed or that your intended retirement date is now different. In those circumstances, it’s very helpful to have the insight of qualified and experienced financial professionals to help you work through a few scenarios. Even though you might not know the exact date for your retirement since it could depend party on some of these outside circumstances beyond your control, knowing your primary plan and your backup plan gives you a sense of control knowing that you have options available to you.

Want to talk through your options? We’re here to help.