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But we dont prepare them for black swan events.
We could be poised to experience something out of the historical norm.
As the Trump economy begins, here are fourmoney moves retirees should makebefore Inauguration Day.
The contribution limit is $8,000 for those age 50 and older.
This could have a meaningful daily impact for retirees living on a fixed income.
The best approach right now is to tighten the belt and conserve precious savings.
Tyler also recommended that retirees talk to their financial advisors to update their retirement plans.
Now would be a good time to get help thinking through how to conserve savings, Tyler said.
A dollar may not last as long as we all thought just a few years ago.
Play Defense
Schiffman also said he advised his clients to play defense.
I am reducing the volatility of the portfolios I manage, Schiffman said.
I am increasingshort maturity bond allocationswhile taking profits in certain stock sectors like big cap technology growth stocks.
However, there are also risks.
Its likely international holdings will be under pressure due to the possibility of tariffs, Casey said.
Overall, Casey recommended that investments be held for the long term.
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