Volatile markets can leave investors seriously on edge, especially as they get closer to retirement, and those who are already retired may be even more worried about losing money — and may start to question their strategy.
The American College recently surveyed financial professionals to determine how their clients reacted to a significant drop in the Dow Jones Industrial Average and found that the majority of retirees show heightened concern. Three out of five respondents said retired clients have been more apt to reach out to them due to recent market volatility and more than half of their clients admit they are more concerned about retirement security than they were last year.