Phil Cannella Complaints

22/11/2011 15:26

Stock markets crashing, housing values imploding, low bond yields, all have had a negative impact on the net worth of millions of Americans who are either retired or are saving for retirement. And this is only the prelude, to a U.S. economy that has yet to be officially declared in recession, a recession which could last several years.What can a person do to survive the impact of a recession on their retirement? In a word - conserve. If you are interested, you may take a look at  Phil Cannella Complaints. Planning RetirementFor those planning their retirements, with money invested in the stock and bond market, and watching the yields and returns on both decline. The temptation to achieve higher returns, by moving assets into riskier investments, should be avoided at all costs. Instead, consider increasing contributions into your retirement funds, to keep your plan on track, and to make up the difference. Take advantage of dollar cost averaging and avoid high risk investments. If your company or industry, will suffer badly in a recession, now is a good time to consider switching careers.About to RetireFor those about to retire, a recession may scare you into delaying your retirement, as you try to minimize the damage to your portfolio. Instead, consider retiring now - recessions can last several years. Continued contributions into retirement funds, in a declining economy, may not make much of a difference. Selling the house, moving assets into secure fixed investments, and retiring now - may make the most sense.Already RetiredRetirees watching their income drop, from lower bond yields and shrinking dividends, don't have much of a choice. Conservation, by reducing consumption or spending, is the only practical way to deal with the current situation. In previous recessions, high interest rates provided a cushion, for the already retired. This time around, even with rising prices, the Federal Reserve is aggressively cutting rates to keep the economy going. Providing no relief to retirees. Especially for retirees, the temptation to seek higher returns through high risk investments, should be avoided. A proper retirement plan, takes into account both good and bad economic cycles, and staying within the retirement plan budget is all that is necessary.Recessions can be scary. But they are not a reason to panic. The message is the same for everyone in any stage of retirement. Avoid high risk investments, with promises of big returns, and conserve your existing wealth.   For more info, visit Phil Cannella Complaints.


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