In late March, when it became clear that coronavirus was a real cause for concern in the U.S. and businesses began to close or streamline services, leaving many workers unemployed, it was hard to watch the stock market tumble 34% in just a few weeks. Investors began to panic and asked their top financial advisors, “What do I do?”
Do you cash out? Do you buy? Do you sell? Do you find ways to hedge?
Believe it or not, it doesn’t and shouldn’t be that complicated. So how do you make saving for retirement a simple no-brainer? If you already have an emergency fund with three to six months of income in it and you have a steady income, you should look at contributing to your retirement plan if you haven’t already done so. If you are just starting your working years, the compound effect of saving for your retirement early on will put you in a great position when it’s time to retire. And if you are a retirement procrastinator, there is no time like the present to get started.