Investing Strategies for 70-Somethings, Part II

How to Prepare for the Next Market Downturn The stock market had its biggest, one-day decline of the year on Wednesday, as the major averages fell just shy of 2% in the session. Markets stabilized in the succeeding days, but the big sell-off got me to thinking about whether listeners were prepared for the next big market downturn. In this week’s leadoff topic, I tell you how to approach the next market downturn with the proper mindset, which includes having a long-term plan in place. If you want to avoid making mistakes during the next big pullback, this segment is for you. Plus, how poor market psychology impedes investor results. How to Evaluate Your Portfolio If I were to sit down with you to talk about your portfolio, or to coach you personally about what you own and what you’re doing, how I would begin? Well, I would start with some basic questions, such as what are your goals, what kind of rate of return would you be comfortable attaining, and what is your biggest fear? In this week’s second topic, I give you some real-world examples of how to think about evaluating your portfolio… and also how to think about the action steps needed to correct any weaknesses. Investing Strategies for 70-Somethings, Part II You’ve made it to your 70s, and this is perhaps the most critical decade to get your financial life right. The reason why is because you usually don’t have the luxury of time to recover from a bad move. In today’s final segment, I present Part II of our discussion on wealth strategies in your 70s. Here again, we continue to cover the most critical components of achieving economic freedom during what could be the best time of your life. Plus, the four most important questions to ask yourself when you’re in your 70s.