Michael Wagner Shares Financial Moves for Retiring Smoothly in a Bear Market with Money

While the freedom and relaxation of the retirement lifestyle are undoubtedly appealing, the transition to retirement isn’t always straightforward, and the current market environment has many soon-to-be retirees understandably stressed. Is it wise to be without a regular paycheck during this tumultuous economic period?

Michael Wagner, co-founder and chief operating officer at Omnia Family Wealth, recently spoke to Money to share some financial moves to make when retiring in a bear market.

Firstly, it may be tempting to cut your losses and pull money onto the sidelines; however, Wagner advises against panic selling. Pulling your money out now could mean missing out on the recovery.

“That is what’s truly destructive to people’s planning: throwing in the towel,” Wagner tells Money. “The challenge there is then getting back in and that’s very hard to do.”

What should you do instead? If you are nearing retirement, check your asset allocation to ensure it is on target and rebalance if necessary.

“It’s really about checking in on your asset allocation regularly as you get closer to that date and making sure that it’s still in line with your time horizon and where you need to be,” Wagner says.

To read the full article, click here.

As always, please do not hesitate to contact us with any questions. We are available via email or phone at (305) 602-9080.

Have Questions for An Advisor?

This field is for validation purposes and should be left unchanged.

RELATED ARTICLES

OMNIA FAMILY WEALTH CEO STEVEN WAGNER NAMED AMONG BARRON’S TOP ADVISORS OF 2023

OMNIA FAMILY WEALTH CEO STEVEN WAGNER NAMED AMONG BARRON’S TOP ADVISORS OF 2023

Read More
Michael Wagner in The Street: Opportunities, Risks and Back-Up Banks

Michael Wagner in The Street: Opportunities, Risks and Back-Up Banks

Read More
Michael Wagner in Barron’s: Things to Consider When Retiring to the Sunshine State

Michael Wagner in Barron’s: Things to Consider When Retiring to the Sunshine State

Read More
Michael Wagner Discusses “Safer” Investment Strategies with Yahoo! Finance

Michael Wagner Discusses “Safer” Investment Strategies with Yahoo! Finance

Read More
Michael Wagner on CBS12 Sunday Morning News live

Michael Wagner on CBS12 Sunday Morning News live

Read More
Michael Wagner Shares Insights into the Labor Market and Consumer Spending With The National Desk

Michael Wagner Shares Insights into the Labor Market and Consumer Spending With The National Desk

Read More
Michael Wagner on the Evolution of Operations Management at Omnia on The COO Roundtable Podcast

Michael Wagner on the Evolution of Operations Management at Omnia on The COO Roundtable Podcast

Read More
Michael Wagner Talks Treasury Bonds in Investor’s Business Daily

Michael Wagner Talks Treasury Bonds in Investor’s Business Daily

Read More
Michael Wagner Comments on the Federal Reserve Interest Rate Hikes in The National Desk

Michael Wagner Comments on the Federal Reserve Interest Rate Hikes in The National Desk

Read More
©2023 Omnia Family Wealth, All Rights Reserved.