The S&P lost nearly a third of its value earlier this year due to the Coronavirus Pandemic global economic shutdown. Since then, it has had a rapid recovery to near record levels. It is now time for investors to review and rethink their strategies, reassess risk, and make any necessary adjustments to their portfolio.  With interest rates at historical lows around the globe, what are investors who are already retired and those nearing retirement to do?  The upcoming Presidential election adds more uncertainty to the equity markets; especially if the outcome of the election is not settled on November 3.  Options to consider for individuals nearing retirement may include resisting retiring prematurely until we get on the other side of these issues.  It is wise to pay down debt and maximize your savings.  Also, one should always have adequate cash reserves in case an emergency arises; typically, 3 to 6 months of living expenses as a minimum. Review your portfolio strategy and risk tolerance with your financial advisor and make any adjustments as needed.  Remember, a routine tune up of your portfolio is necessary from time to time just like the routine tune up of your automobile is needed.  Do not assume that because things are looking good and going up that everything is okay.  Everything is okay until it’s not. Be proactive. Now is a good time to review and rethink your financial plan.  Please feel free to reach out to us if you are interested in reviewing your financial plan and goals.

Any opinions are those of J. Greg Garner and not necessarily those of RJFS or Raymond James. The information contained in this report does not purport to be a complete description of the securities, markets, or developments referred to in this material. There is no assurance any of the trends mentioned will continue or forecasts will occur. The information has been obtained from sources considered to be reliable, but Raymond James does not guarantee that the foregoing material is accurate or complete. Any information is not a complete summary or statement of all available data necessary for making an investment decision and does not constitute a recommendation. Investing involves risk and you may incur a profit or loss regardless of strategy selected. Asset allocation and diversification do not guarantee a profit nor protect against a loss. Dividends are not guaranteed and must be authorized by the company’s board of directors.