Volatile stock market spooking some older workers, retirees

AP / BATTLE FOR WORLD – November 19, 2018: The article highlights that the recent turbulence in the U.S. stock markets is spooking some older workers and retirees, a reminder that this group was hit particularly hard during the most recent financial crisis.

And there’s no indication that the recent volatility has brought about large-scale overhauls in retirement planning. To make matter worse “There’s a lot of fear that if you have another event like 2008 and you retire the year before or the year after, you’re screwed. I’m not taking that risk,” says Mark Patterson, a recently retired patent attorney from Nashville, Tennessee. And “There’s a huge fear of folks my age that they’re going to run out of money and they’re going to need to rely on the government for help.”

Indeed, haunting memories of another recession continues to take a financial and psychological toll on many of those who were affected.

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