After a little over a year of constant downturns in the economy and stock markets, some discussion is coming to light in terms of people reconsidering what retirement means, and how they are going to get there. I know I’ve seen this in my practice, as I’m encountering many more people who are approaching retirement in 10 years or less and they are seriously thinking about extending how long they work, or even changing their retirement plans.
It’s understandable that if you’re just a few years from retirement and you had a large stake in the stock market, the losses experienced this year are enough to rattle even investors who are typically risk adverse. But, what about the younger generation that typically reads this site? The bulk of readers here are in the 25-45 year old range, which puts a typical retirement at anywhere from 20-40 years away. With a longer time horizon, I wonder if the recent economic climate has forced younger people to begin thinking more critically about their retirement expectations.
Is retirement still too far off to really worry about at this point? Are you reconsidering how your investments for retirement are structured after what’s happened? Do you plan on working longer, or change your retirement goals?
Don't Miss: Scottrade Review - $7 Trades and Get 3 Free Credit Scores and Hot Credit Card Deals
Filed Under: Polls
About the Author: Jeremy Vohwinkle is a Chartered Retirement Planning Counselor® and spent a few years working as a financial planner. Today, he helps people make the most of their money by writing about personal finance here and elsewhere on the web. Jeremy is also Coach at Adaptu and a regular contributor for other publications such as Intuit, and American Express. Be sure to follow Jeremy on Twitter or Google+.