D. Scott Kenik discusses how market volatility can negatively impact retirement.

Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-d-scott-kenik-founder-and-principal-of-wealth-concepts-group-discussing-market-volatility/

Scott explained: “Market volatility can have a devastating impact on retirement savings. When the stock market is volatile, the value of investments rise and fall. This can cause people to lose money when prices drop, possibly leaving them unable to recover their losses before retirement. It’s important to recognize that market volatility can erode people’s retirement savings over time, even if it appears that they’re making gains in the short term.”

It’s also important to consider how market volatility could affect other aspects of retirement planning, such as Social Security benefits and pension plans. If the stock market drops significantly or remains volatile for an extended period, companies may be forced to reduce their pension contributions or adjust Social Security income thresholds due to decreased revenue. This could mean reduced benefits for retirees when they need them the most.

Market volatility can create uncertainty about how much money a person will save for retirement. When markets are volatile, it can be challenging to predict the ending balance if people stay invested and continue to contribute regularly to their retirement plan. This means it’s important to remain vigilant in monitoring investments and adjusting them as needed to minimize losses due to market volatility.

Overall, understanding how market volatility can affect an individual’s retirement is vital to ensure that they’re prepared for any ups and downs of the stock market.

Scott added: “Having a diversified portfolio and staying informed about current financial trends are just two ways that people can use to protect themselves from the losses associated with market volatility. By proactively managing their retirement savings, people can help ensure that short-term market fluctuations do not compromise their long-term financial security.”

Video Link: https://www.youtube.com/embed/2EfCuxSfv80

About D. Scott Kenik

Scott first started in the industry back in 1995. He spent several years educating financial advisors from Merrill Lynch, Morgan Stanley, Prudential, and other national companies on retirement plan design, and he worked for Metropolitan Life helping them launch a new retirement program.

There were two significant events in his life that led him to his current and most rewarding path of helping families gain financial security.

The first was his parents’ retirement problems. They spent much of their retirement taking seminars and learning about investing and they traded their own accounts to supplement their retirement income. As far as he knew they were successful. They never said otherwise.

When his dad passed, his mom told him that, in fact, they had lost a lot in the stock market and she was concerned about having enough money to live on. Now, they were both smart people and had dedicated a lot of their time to learning about investing. Instead of mom enjoying her golden years, she pinches every penny hoping that her money will last.

The other significant event was the economic crash in 2008 from the mortgage crisis. He watched his retirement account drop like a rock, as did his friends and associates. He knew there had to be a better way.

If a No-Stress Retirement is your goal, feel free to contact Scott for a complementary Wealth Concepts Group consultation.

Learn More: https://wealthconceptsgroup.com/

and get a complimentary copy of Scott’s book “No Stress Retirement Roadmap https://www.nostressretirementroadmap.com/

ALL CONTENT IS FOR INFORMATION PURPOSES ONLY. OPINIONS EXPRESSED HEREIN ARE SOLELY THOSE OF WEALTH CONCEPTS GROUP AND OUR EDITORIAL STAFF. MATERIAL PRESENTED IS BELIEVED TO BE FROM RELIABLE SOURCES; HOWEVER, WE MAKE NO REPRESENTATIONS AS TO ITS ACCURACY OR COMPLETENESS. ALL INFORMATION AND IDEAS SHOULD BE DISCUSSED IN DETAIL WITH YOUR INDIVIDUAL ADVISER PRIOR TO IMPLEMENTATION. THE PRESENCE OF THIS WEBSITE SHALL IN NO WAY BE CONSTRUED OR INTERPRETED AS A SOLICITATION TO SELL OR OFFER TO SELL INVESTMENT ADVISORY SERVICES. ANY GUARANTEES REFER TO INSURANCE PRODUCTS, AND ARE BACKED BY THE CLAIMS-PAYING ABILITIES OF THE UNDERWRITING COMPANIES.

Media Contact
Company Name: Marketing Huddle, LLC
Contact Person: Mike Saunders, MBA
Email: Send Email
Phone: 7202323112
Country: United States
Website: https://www.AuthorityPositioningCoach.com