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3 Tips for Retirement in a Down Market

The economy has been on a wild ride over the last several months. Like most, if you’re concerned about your 401k or IRA, there are three important tips to remember. 

Stay Calm. Being in the market right now is like being on a rollercoaster. There are a lot of ups, downs, twists, and turns. Remain calm and remember, although there will be drops in your investment; eventually, there will be an upward climb and, ultimately, the ride will come to an end.  

Stay Focused. Many of us have planned for retirement by investing in retirement accounts. We’ve thought ahead. Continue to think long-term, keep your money where it’s at, and continue to put money in your account while the stocks are priced low. Putting money in a down market pays great dividends when it bounces back.  

Stay Invested. Taking money out when the market is down can be very costly. For instance, if you had $10,000 in your 401k on January 1 and received your statement on March 23 at the low point, you would have noticed the market was down over 30 percent. The $10,000 is then $7,000. If you left your investment where it was through May 8, you would only be down 8.7 percent, or you would have had $9,130. 

If you want to talk to someone to make sure you’re making good decisions, contact a trusted advisor. 

Source: First Florida Investment Services*

*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. First Florida Credit Union and First Florida Investment Services are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using First Florida Investment Services, and may also be employees of First Florida Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of First Florida Credit Union or First Florida Investment Services. Securities and insurance offered through LPL or its affiliates are: 

Not Insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value


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