When people finally reach retirement age, they look forward to spending their days relaxing with family and friends.
They don't want to worry about market crashes siphoning away their hard-earned retirement funds. This potential problem leads to many investors inquiring about what they should do if the market crashes and how they should plan for this potential problem.
Fortunately, Portland, Oregon, financial professional Wayne von Borstel can offer investors some insight into the threat of a market crash during retirement. This information can help investors at all stages of their retirement planning take the appropriate steps to minimize risk and maximize their opportunities for success.
Wayne von Borstel is a financial planning professional who has dedicated his career to successfully helping people manage their wealth. He not only manages accounts for clients with a focus on personal, individualized advice and guidance, but he also emphasizes the importance of education in all aspects of his professional life. von Borstel teaches classes and creates educational resources for people interested in learning more about money management. He has even funded schools overseas to help underprivileged children access a vital education.
The value Mr. von Borstel places on one's education does not stop with what he can do for others. He has also sought and earned a variety of degrees and certificates in the area of financial planning. Even though these degrees are not required for brokers to make money, they provide them with greater insight into the financial situations of a wide range of potential clients. This helps him provide personalized advice and retirement planning for each client.
Mr. von Borstel has been interested in investments and financial management since his teenage years. These decades of experience, alongside his extensive education in the field, have provided him with keen insights regarding the threat of market crashes during the retirement years of a given client. This information can help all investors better understand this threat.
The first thing that all investors should realize is that the market is going to crash. The idea of the market continuing in a positive direction unceasingly is not possible. Therefore, clients should always encounter this type of situation prepared. Instead, they should note that markets crashing every few years is entirely normal. Over the course of a typical investor's retirement, the market will likely crash a handful of times.
The second more important piece of information for investors is that markets recover. This recovery might come quickly or take a while to materialize. Patience, however, and recognizing the typical market patterns can help investors navigate the downturn and make wise financial decisions despite the downturn.
To help investors navigate the upcoming downturns, regardless of whether they occur in a few months or a few years, there are a few steps that all investors can take.
As a financial planner, Wayne von Borstel always aims to help clients have at least five years of conservative money. That step helps people plan for potential downturns and avoid taking ill-advised financial steps, such as spending during the down market and losing finances.
Having a few years of conservative money set aside for these potential crashes allows investors to create plans for these periods and still have a solid portfolio moving forward. Thinking about the best course of action during a downturn before a crash materializes is essential. This allows investors the time needed to adequately prepare instead of panicking when the market inevitably heads south for a period. Having a plan and preparing for the future will help everyone feel more secure in their investments and make wise decisions.
The best strategy investors can have at their fingertips is to work with a financial professional they trust who can help them plan for these market downturns. A qualified professional knows that the market will naturally rise and fall over the course of a person's retirement and can help investors plot the course that will protect their finances and give them the best chances for success. Von Borstel and Associates Facebook page.
Of course, to achieve this goal, investors need to ensure that their broker has their best interests at heart. They also want a broker with the education necessary to successfully plan for and navigate financial downturns to minimize losses and even create the potential for gains.
Look for investors that have criteria such as:
They have sought educational opportunities that allow them to maximize their knowledge and insights to help clients from various financial backgrounds and with different financial goals.
They can discuss with clients what they do to protect people in a market crash. Investors want to work with brokers who have a concrete plan.
They place the client first. Many investors are driven primarily by profit and only pay lip service to put the client first. These brokers often work for large firms with tight rules and restrictions dictating how they guide their clients' investments. This makes it difficult for clients to receive personalized attention and guidance towards their financial goals.
Working with these types of brokers can help clients rest more easily. In addition, they will know that their broker has their best interests at heart and will take the necessary steps to protect their retirement funds in the event of a market crash.
Investors need to recognize that market crashes during their retirement are inevitable. It is about something other than avoiding this potential problem. Instead, the focus should be on having a plan for navigating the situation and working alongside a qualified broker who can help them protect their finances. Those worried about a potential market downturn over the course of their retirement should take this advice from Wayne von Borstel to heart and see how they can set up their retirement accounts for success.