Retirees are likely feeling anxious after a recent slump in the stock market. However, it’s crucial to avoid making impulsive decisions. In fact, doing nothing may be the best approach for your portfolio. Historically, the stock market has experienced periods of volatility, but ultimately, it tends to recover over time.
Instead of trying to time the market or make drastic changes, consider a long-term strategy. Focus on maintaining a diversified portfolio and allowing compound interest to work in your favor. By taking a calm and patient approach, you can reduce stress and increase your chances of achieving your retirement goals.
Source: https://www.barrons.com/articles/retirees-stock-portfolio-bd4ee9bf