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The Coronavirus pandemic and corresponding level of market volatility have caused everyone to review and re-evaluate their capacity for risk. This reminds me of a key tenant of retirement planning and a core concept of determining an appropriate Investment Policy:
“We don’t plan to retirement, we plan through retirement.”

Click the video below to watch Fort Pitt Capital Group’s, Brad Newman, explain why you should not let market volatility dictate your time horizon. You can also scroll down to read more.

If your Investment Policy was appropriate for your situation (based on timeframe until retirement, income expectations, risk tolerance, etc.) before the Coronavirus volatility, it is applicable during the volatility too. It will continue to be appropriate after the volatility unless your personal situation changes. The tenant holds even for our clients who plan to retire at the end of this year, along with those whose timeframe is not eight months but 20-30 years. Additionally, no retiree needs to spend their entire portfolio on the first day of retirement. Instead, you should focus on just your monthly income needs.

As you reflect on your ability to handle the current, or future volatility, remember that your timeframe is longer than you might think it is. You need to be making decisions for the next several years or decades, not the next several weeks or months.

As always, please don’t hesitate to reach out to us with any questions.

The post Don’t Plan to Retirement, Plan Through Retirement appeared first on Fort Pitt Capital Group.

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