Turbulent stock markets spooking older workers, retirees
Posted November 19, 2018 1:20 am.
This article is more than 5 years old.
CHICAGO — The recent turbulence in the U.S. stock markets is spooking some older workers and retirees, a group that was hit particularly hard during the most recent financial crisis.
There’s no indication, though, that the recent volatility has brought about large-scale overhauls in retirement planning.
A vice-president at Allianz Life Insurance Co., Paul Kelash, says the market fluctuations are like a return to normalcy after what had been a steady upturn. He says he hasn’t seen much evidence of Americans drastically altering their retirement plans
A Bankrate survey says 62 per cent of Americans — and 76 per cent of those 65 and over — don’t believe their financial situation has improved in the two years since Donald Trump’s election. Nearly 1 in 5 say their finances have actually gotten worse.
Andrew Soergel, The Associated Press
