070: How to Make Your Retirement Plan Recession-Proof

The Retirement Trainer

It's difficult to prepare for every worst-case scenario. When the most likely scenarios are considered, it can help avoid panic and overwhelm when the rough days rise to the surface.

Imagine that you're on your way to an important business meeting or picking your spouse up from the airport when one of your tires suddenly goes flat. If you have a spare, you'll be a little late. If you don't, your entire day could be derailed.

As we all know, life can be unpredictable. And if you're taking too many risks with your investment portfolio, or if you've simply failed to prepare, changing market conditions can be more than a flat tire–they can put your nest egg in jeopardy and wreak havoc on your retirement.

It's impossible to predict how the market will be performing when we retire, which is why today's episode is all about what to do when you retire in a market downturn. We'll dig into why our current economic situation is so complicated, why it shouldn't impact whether or not you retire, and how to take emotion out of your financial planning and live your life to the fullest.

In this podcast interview, you’ll learn:

• Why we’re likely in or on the verge of a recession.
• How recessions can negatively impact your retirement portfolio.
• Why it’s important to review your portfolio as often as quarterly when markets are volatile.
• The questions you and your financial advisor should be asking as you look over your financial plan.

To get access to today's show notes, including links to all the resources mentioned, visit EGSIFinancial.com/70

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