loader from loading.io

Retiring During a Market Crash

Ready To Retire!

Release Date: 08/09/2022

Four Phases of Your Financial Journey – Which one are you in? show art Four Phases of Your Financial Journey – Which one are you in?

Ready To Retire!

Planning for the future doesn’t have to cause fear or anxiety.  But how much money should you save now to live comfortably in the future?   In this episode, I dive into my tried-and-true framework called the “Four Phases of Your Financial Journey” to help you understand what financial decisions you can make now to better prepare for tomorrow.  I’ve used this framework successfully for years with my clients and I think it’ll work great for you, too. Also, I’m sharing the best savings advice I received ages ago from my own mother that still holds firm decades...

info_outline
The Key Lesson to Learn in Preparation for Retirement show art The Key Lesson to Learn in Preparation for Retirement

Ready To Retire!

Simply spending less money than you make is the secret ingredient to budget success, in life and especially in retirement. But why is it so difficult for us to spend less than we earn?  In this episode, we’re going to talk about how to avoid overspending. There are several recurring themes individuals seem to ignore.  I’m hoping to raise awareness about these patterns in an effort to keep you from going down the tempting path of overspending. In addition, I’ll be discussing some solutions for each form of overspending and highlighting the three spending categories that are...

info_outline
Protecting Yourself From Online Scammers show art Protecting Yourself From Online Scammers

Ready To Retire!

What would happen if you fell victim to online scammers?  As we prepare for retirement, we’re doing all the things to secure our savings, line up legal documents, and prepare for the next 30+ years of adventure and freedom. Online scams are becoming more prevalent and falling victim to these scams could definitely throw all our well-laid plans completely off track.  In this episode, not only will we discuss the most common scams and how to avoid falling for them, but I’ll also provide some guidance for those who have already fallen victim to scams.  I’ll share about how...

info_outline
Part 3: Planning your Epic Retirement - Connecting it All Together! show art Part 3: Planning your Epic Retirement - Connecting it All Together!

Ready To Retire!

The best route to retiring with confidence is to plan for the lifestyle and activities your want and organize your own retiree cash flow around funding those dreams. Part 1 () walked you through the thought process of planning the lifestyle you want during your retirement years. You can create a vision board, journal, or simply visualize where you envision yourself, the people who surround you, and the feelings you want to have. Your second step () is to compile an itemized inventory of all your potential sources of income in retirement.  In this episode, part 3, we get to Connect it all...

info_outline
Part 2: Planning your Epic Retirement - Most Common Forms of Income show art Part 2: Planning your Epic Retirement - Most Common Forms of Income

Ready To Retire!

Whenever you consider what your life will look like in retirement, I’m sure travel, time with family, and other joyous freedoms come to mind. It’s important to consider, however, where your cash flow will come from during those retirement years. In the last episode, I encouraged you to dream. We walked through outlining what you’ll do with your time beyond scheduling a few vacations so that when you retire, you can fully embrace the freedom you’ve worked so hard to earn. Here’s the outline of your 3 steps to planning an epic retirement: Part 1- What are you going to do with your time...

info_outline
Part 1: Planning Your Epic Retirement - What Will You Do With Your Time? show art Part 1: Planning Your Epic Retirement - What Will You Do With Your Time?

Ready To Retire!

“All you have to do is imagine the things you want to do and make them happen.” Planning your epic retirement is a three-part series that will assist you in making the necessary preparations so that you can enjoy the retirement of your dreams. Part 1- What are you going to do with your time in retirement? (This episode!) Part 2- What are your sources of income in retirement? Part 3- Making it all work  Retirement can seem overwhelming when you consider everything involved with making plans for how you’ll live and how you’ll fund that lifestyle for the rest of your years. But...

info_outline
Retiring During a Market Crash show art Retiring During a Market Crash

Ready To Retire!

When you're approaching retirement, what do you do if the market suddenly drops? When it comes to financial planning, this has been the most challenging scenario by far.  Numerous recessions have occurred throughout the past 30 years, and we’ve bounced back from every single one. Remember the dot-com era in the 1990s? There were even a few in the early 2000s with 9-11 and the housing crash of ‘08. Then, during the Coronavirus pandemic, the stock market experienced significant declines as a result of the newly discovered uncertainty, but it bounced back within 6 months.  Although,...

info_outline
Introducing the Ready to Retire Podcast show art Introducing the Ready to Retire Podcast

Ready To Retire!

Are you Ready to Retire? Have you saved enough? At what age should you retire? These and many more questions are probably swirling around in your head any time you look at your investment accounts or think about your 401k, pension, or social security. Or maybe you’re just tired of working and wondering when you’ll be able to quit confidently! With Danette Lowe, CFP®, and her 20 years of experience in retirement planning, you’ll hear real stories, learn more about how to plan for an epic retirement successfully, and hear actionable advice to help you peacefully navigate the transition...

info_outline
 
More Episodes

When you're approaching retirement, what do you do if the market suddenly drops?

When it comes to financial planning, this has been the most challenging scenario by far. 

Numerous recessions have occurred throughout the past 30 years, and we’ve bounced back from every single one. Remember the dot-com era in the 1990s? There were even a few in the early 2000s with 9-11 and the housing crash of ‘08.

Then, during the Coronavirus pandemic, the stock market experienced significant declines as a result of the newly discovered uncertainty, but it bounced back within 6 months. 

Although, at the moment, recessions never feel temporary, when you take a step back and look at the markets’ behavior over a long period of time, you’ll see that volatility, peaks, dips, and overall long-term upward trends are all just part of the equation.

In this episode, we will talk about the different iterations of the economic crises that have occurred over the years, as well as the influence they’ve had on the general public. I’ve also included some pointers to get you through the next few months, lessons to learn, and an explanation of how to evaluate the market as you decide whether it is the right time for you to retire.

The lessons you will learn:

  1. We Will Recover 
  2. Stress Testing your Portfolio 
  3. Essential vs Non-essential Spending 
  4. Emergency Funds 

As soon as the market has reached its lowest point (and we won’t know when that is until after it’s happened), traders and investors can anticipate a robust recovery.

Those who sold their investments when prices were low are statistically unlikely to buy back in until the market has recovered approximately 18%. On the other hand, those who bought low reap the rewards of those steep returns.

In this episode, you’ll also hear:

  • The tragedy of the World Trade Center attacks in 2001 and its impact on the stock market 
  • The velocity of the spending is going to help us get through the downfalls 
  • Essential vs non-essential spending and what does this mean for your retirement future 

Must-listen moments: 

[11:36] Stress testing your portfolio and know the stock market will recover 

[15:33] Asking yourself if your portfolio passes the stress test by looking at your spending

[16:49] Emergency (Adventure Fund) and what requires you to tap into the cash you have 

Links/Resources:

Establishing an “Adventure Fund” 

Linkedin

Visit our website 

Contact Danette Lowe:

Email: [email protected]

Phone Number: 775-364-0010