What retirees should expect with the stock market downturn

What retirees should expect with the stock market downturn

If you’re close to retirement age, the state of the economy is likely raising many questions. The current slump in the stock market means retirement plans like 401(k)s have taken a hit. NY1 spoke with Nicholas Economides, professor of economics at the NYU Stern School of Business, about the state of the market and what people eyeing retirement should know right now. This interview has been edited and condensed for clarity. What does the stock market have to do with my retirement account? Nicholas Economides: A lot of people have retirement accounts, which are invested in stocks, and they go up and down in value, depending on how the stock market goes. Right now, they're down about 20 to 25%. I wanted to retire this year. Any tips on what …
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