Brexit & Your Retirement Dollars
So you're seeing Brexit in the news? Here's what you need to know about your retirement account
I’ll be honest, before two weeks ago I had to Google what “Brexit” was. During that search I quickly learned that the term referred to Britain leaving the European Union. Fast forward to last night, Americans went to bed hearing doomsday scenarios on the news, on Twitter, etc. and woke up this morning seeing red numbers roll across the TV screen. When newsworthy things like this occur I ask the question what does it mean? What's the impact? Bottom line, how does this affect my day to day, the people closest to me, and my future? While it’s not my job or my place to speak into your personal lives and how an event like this affects you. It is my job to speak to how an event like this affects your retirement account because that’s what individuals, families, organizations, and companies hire our firm to do.
Before you scroll down to the info-graphic Will Kellar (our newest advisor) and I put together HEAR THIS THE LOUDEST. Being reactive in markets like this (aka Market Timing) is rarely a good idea. Instead, take this as an opportunity to evaluate your portfolio and the risk you are taking. Saving for retirement is a long term strategy. Regardless of Brexit, you may be taking on too much or too little risk in your portfolio to meet your goals. Let us help you figure that out.
As always please do not hesitate to call or email us with questions. As Fiduciaries, our advice comes from a place to act in your best interest. Ultimately, this is money you’ve worked for and sleeping at night takes priority over most (if not all) other variables.