If you found yo🌳urself worrying ab💧out whether last week’s stock-market drop put your retirement plans at risk, you’re not alone. 

Millions of Americans turn 65 each year, after all. Knowing that, however, mi𒀰ght not ease the pain after the dramatic pullbacks of the past week. Investors are still seeking clarity about the Trump administration’s tariff plans and their effects on markets and global economies. 

Retirement experts urge caution—and a cool head—for those who see themselves a few years away from hanging up their working hats. They advise looking to reevaluate your retirement needs; shoring up savings and minding expenses; and taking time before making dramatic changes to your portfolio. 

"You never know how these things are going to end,” said Marcos Segrera, wealth manager and principal at the Florida-based financial advisory firm Evensky & Katz / Foldes. “Don’t make long-term [decisions] based off short-term information.”  

Investopedia asked several experts how to think about retirement planꦜning in a volatile environment. Several suggested checking in with professional planners, who are often willing to consult with people on a one-time or hourlﷺy basis for a baseline assessment. Here are a few of their other suggestions. 

Try Not to 'Panic Sell.' You Might Regret It

When stocks are falling, it can be tempting tℱo consider selling before🔜 things get worse. 

That’s often a short-sighted strategy, said Douglas Boneparth, president of Bone Fide Wealth, a New 🔜York City-based financial advisory firm. People have historically done a terrible job of pulling out of the market and returning before it picks up again, he said.

And you don't want to risk missing the rally, Boneparth said. An investor who put $10,000 in the S&P 500 in 1995 would have 54%—or $121,500 less—in 2024 if they missed the index’s 10 best days over those three decades, according to an analysis from Hartford Funds. (Read Investopedia’s coverage of Wednesday’s trading here.)

Trying to time the market can have “dཧevastating” consequences, according to Boneparth. “Don’t panic sell. Don’t do irreversible damage to your portfolio by locking in those losses,🔥” he said. 

Boneparth suggested taking a break fro𓄧🍨m financial news and de-stressing with exercise or spending time in nature.

Do a Gut Check

There are some quick tests you can take⭕ to see if your plan is still on track, said Gregory Furer, CEO of Beratung Advisors, a Pittsburgh-based fina🌳ncial planning firm. 

Here's one he suggests: Say your retirement account and savings total $1 million. Simulate a continuation of the market slide by knocking 10% off your total funds, giving you $900,000. Think about whether you could live off 4% of your retirement savings—in this case, $36,000—in the first year, which is an industry rule of thumb. (For more insight into the "4% rule," 澳洲幸运5官方开奖结果体彩网:read this.)

You should also consider whether you have saved 12 months of expenses in cash, Furer said. People in or near retiremen🦩t need these reserves to avoid selling equities at a loss and jeopardizing funds budgeted for their later years. Since most downturns pass within a year, a 12-month stockpile can help you wait out a downturn, Furer s🎃aid.

“This is something yo𓆏u can do on a calculator without talking to anyone,” Furer said.

Bolster Cash Reserves

People should aim to retire with a few years𝔉 of cash stashed away, advisors said, offering tips for bolstering your stockpile.

• Opting to get stock dividends and interest payments in cash, rather than having them reinvested, may be one way to access cash, Segrera said. 
• Others who have built up significant equity in their home may be able to get a reverse mortgage line of credit on their house, said Michelle Petrowski, founder of Being in Abundance, an Arizona-based financial advisory firm.
• If necessary, people can sell bonds or other fixed-income assets, Boneparth said. 

Stocks should be the last to go, according to Boneparth.

“Buy the dip, so to speak,” Bonepaඣrth said. “The longer time you have to let those equities recover, the better off you’re going to be in the l𝄹ong term.”

Consider Ways to Cut Expenses

If your account balances aren't where you'd like them to be, some lifestyle changes may help, said Nancy Listiawan, founder of Wealth Advisor, a California-based firm.

If a client was planning to live off of $100,000 annually, but can make do on $80,000 for the next few years, the individual may be able to avoid selling investments an🔯d move forward with retirement, Listiawan said. 

This can w🀅ork if people are prepared to skip major expenses, such as vacations, and cut back on dining out and other indulgences.

“You can still retire, but you may not be able to do all of the things that you had planned for the first one or two years,” she said.

CORRECTION—April 9, 2025: An earlier version of this story incorrectly identified the firm founded by Nancy Listiawan. She is the founder of Vera Wealth.