Originally posted January 6, 2019. Last updated: March 5, 2019.

What should I do if I’m planning to retire in 2019?

Recently, one of Get Irked’s members asked if they should be worried about retiring this year given the market’s current fluctuations.  

Don’t go it alone – Get a financial adviser.

First, it is absolutely imperative that you have a financial adviser to help you plan for retirement.

As we say in every post, Get Irked is not made up of professionals – we’re not financial advisers and just share our plans here for the benefits of everyone.

Make sure you seek out a financial adviser you trust who can help you plan for your future goals – whether that’s retirement this year or in 30 years.

Financial advisers should ensure your portfolio is made of up of more conservative investments that aren’t as exposed to the wild fluctuations in the market, so definitely have a discussion with yours.

The Market so far in 2019

The Fed’s comments on Friday, January 4 that they intend to be patient and pay close attention to the data rather than raise rates robotically were very good news.

With an upcoming meeting on Monday, January 7 with China and rumblings that China is beginning to realize they need to deal if they want to continue operating in the world economy (not just the U.S. but the rest of the countries are putting pressure on China’s unfair trade practices, too), there could be even more good news ahead for the market’s reversal.

If the U.S.-China Trade War can be resolved, that, in combination with the Fed’s intent to remain data-driven, could signify the bottom of the market.

Will we return to the bull market we’ve seen over the past 7-8 years?

Not necessarily.

It’s always good to be prudent and patient (even though FOMO can be a powerful feeling). Better to wait and watch for the market to confirm a reversal; you’ll miss some upside but security is imperative for all investors, particularly those who are planning to retire this year.

Long story short – a few days can make a world of difference.

Many analysts had already written off all of 2019 after the first trading day, and then Friday’s news caught everyone – particularly those down on the market – completely off-guard.

Only time will tell where we’re headed from here. One thing’s for certain – Get Irked will be here giving you news, opinions and lessons to help you navigate your financial future.