• Review your goals: Effective retirement planning starts with a strategy that is personal to you and your circumstances.
• Educate to create a successful plan: Learning about retirement planning takes initiative and commitment.
• Navigate the market’s ups and downs: While it is important to understand and to keep informed about current market conditions, it’s also important to note that the markets have been through significant volatility many times before and historically have eventually recovered.
• Evaluate your risk tolerance: Market turmoil can be difficult to weather, and news reports and updates from Wall Street can send you on an emotional roller coaster. Adjusting investments based on risk tolerance can position participants to withstand the downturns and reap rewards over the long term.
• Watch your account: Monitoring progress toward reaching retirement savings goals and reviewing investment allocations as personal situations change are important steps to take while preparing for retirement.
“Many retirement plan investors have become understandably nervous about the economic outlook and volatility in investment markets,” said Stig Nybo, president of Transamerica Retirement Services. “Transamerica’s RENEW program provides participants with actionable tools to establish a solid retirement savings strategy and build toward savings goals regardless of the state of the economy or market fluctuations.”
The “RENEW Your Commitment to Retirement Planning” program is available to Transamerica retirement plan participants on www.TA-Retirement.com.
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