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Worried what volatility means for your retirement savings?

July 5, 2022 by The Trust Company of Tennessee

If you’ve been paying attention to the financial markets, you may feel a bit unsettled by the volatility we have seen this year. Stocks have been impacted by a variety of factors including Russia invading Ukraine, inflation, and the Federal Reserve increasing interest rates (which has also impacted bonds). While volatility is a normal part of investing, it may feel scary. Below are steps that you can take for your retirement plan account:

  • Assess when you intend to take distributions.
  • If your retirement is more than 5 years away, remain invested and weather the storm. Markets often rebound after volatile periods, which historically leads to strong future returns.
  • If your retirement is less than 5 years away or if you have questions about your account, you can call your plan’s Relationship Manager or schedule a Virtual Retirement Account Review.

If more information would be comforting, please listen to our latest Market Commentary from our Chief Investment Officer, Miranda Carr, CFA.

 

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