With 2023 posing challenges such as a potential recession, more market volatility and further interest rate increases, retirees and those saving for retirement should consider following these five strategies to get through the year.
With 2023 posing challenges such as a potential recession, more market volatility and further interest rate increases, retirees and those saving for retirement may find it safer to stick to the basics and hunker down for another turbulent year.
Read: What’s the best way to take RMDs from your retirement accounts? Experts rate the top 3 strategies.“Think about how much you’ll need in the next two to four years – for retirement or a child’s education – and not be exposed to risk for that amount,” Williams said. “Have a plan and start early. Start saving 15% – start with something – and start soon. It’s all about time in the market and having a disciplined plan,” said Williams.Currently, Congress is crafting the final details of what is commonly known as SECURE 2.0, which would be an update to the 2019 measure called Setting Every Community Up for Retirement Enhancement Act.
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