5 moves to help you cope with market volatility

It’s no secret 2022 has been a challenging year for investors. Of course, if you’ve been investing for a long time, you’ve seen other periods of market volatility. Still, when you’re retired and possibly already drawing on your portfolio for income, it can feel unsettling to see drops on your investment statements. Should you be concerned? And how should you respond?
Actually, you may be more prepared to handle a downturn than you think. Your financial strategy is designed taking into account that market declines do happen. If you’ve built a portfolio containing an appropriate mix of stocks, bonds and other investments based on your goals and risk tolerance, you’ve got a good foundation to help you withstand a down market and prevent it from disrupting your long-term financial strategy.
In fact, every investment within your portfolio has a purpose, helping provide for your income needs today and over the long term.
ADA description: Within your portfolio, cash and short-term fixed-income investments can help provide near-term income. Intermediate- and longer-term bonds and fixed-income investments can help provide medium-term income. And stocks and growth investments can help provide long-term income.
Still, regardless of how well you’ve constructed your investment portfolio, you may be tempted to “do something” in response to this year’s market volatility. Here are five ideas to consider:
To discuss these ideas or other concerns you may have about the current market environment, talk with your financial advisor. The markets will always be on the move, but in the long run, you have the most control over your financial future.
*Source: Bloomberg.