Use Boldin's Market Risk Explorer to Strengthen Your Plan
Does a market downturn significantly impact your Chance of Success?
Consider these strategies to fortify your plan:
Increase Savings: Boost Your Retirement Savings Rate
Utilize Boldin's Contribution Feature:
Capture your employer match.
Model contributions to a Roth IRA.
Max out your employer-sponsored retirement plan.
Monitor Your Progress:
View your Savings Rate in the Financial Wellness Metrics Library.
Adjust your Investment Strategy
During market downturns, safeguard assets by adopting a more conservative investment strategy, such as increasing allocations to cash or fixed income. Boldin's Recommended Rates facilitate easy adjustments to asset allocation. You can also model future rate changes, which is especially beneficial for those approaching or entering retirement, who typically transition from equities to fixed income to protect their investments.
Position Lower-risk Assets for Early Retirement Years
Utilize Boldin's Customized Withdrawal Strategy to ensure that withdrawals will be taken only from a designated safe, low-yield, low-volatility investment, such as a money market or bond account during market downturns.
Reduce Spending
With Boldin's Detailed Budgeter, you can categorize your expenses as either essential or discretionary. This allows you to analyze your financial forecast under various market conditions, both with and without your discretionary spending. Such an exploration can help you mentally prepare for potential adjustments if market returns are lower than anticipated or if a substantial loss occurs.
Extend Working Years: Work an additional year or two to allow your portfolio more growth time before withdrawals begin.
Use Boldin’s Retirement Age feature to learn how adjusting your retirement date could improve your Chance of Success during a market downturn.