Originally Posted by
DrunkIrishman
“older workers who are planning to retire in the next six months, or at some point in 2020, have more to think about. If you're one of them, your best move may be to postpone retirement until the market does a better job of settling down and portfolio values recover.”
For those that keep thinking the older guys are just out for money. Just sayin
Originally Posted by
notEnuf
Nobody is taking an early out now. Especially if they were substantially (40% or more) in the equity market. Most retirees need that amount to sustain their nest egg.
Taking a lump sum early retirement could be the greatest financial move available. Imagine investing a huge lump sum at current market prices and catching the next decade of recovery.
I won't castigate anyone who planned an early retirement, but is now holding on til 65. That said, if you are within a year or two of retirement, your portfolio should have already contained a proper balance of equity and income holdings. Being 100% equity until retirement date, then making the shift is irresponsible at best. The last few years in the workplace should be building cash for retirement and transitioning to an income production vs growth. If your portfolio just tanked and you want to work til 65 instead of 63, go for it. Stock away a few grand while stocks are on sale. If you start lobbying for 67 because the market just tanked, get out of my seat old man.