How COVID-19 is affecting retirement investments

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COVID-19 Impact: How COVID-19 is affecting retirement investments


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NICK: A LOT OF EYE ONES DON’T WANT TO OPEN THEIR INVESTMENT REPORTS. BUT A FINANCIAL ADVISOR SAYS DON’T PANIC THERE’S STILL TIME TO RECOUP LOSSES. >> WE EVEN ORDERED A JIGSAW PUZZLE. NICK: DENNIS AND CHERLY PATE AREN’T AFRAID TO LAUGH. THEY’VE NAVIGATED UNCERTAIN TIMES BEFORE. THE PATE’S KEEP AN EYE ON THE STOCK MARKET. >> THE FACT THAT IT TOOK SUCH A PDEEP DIVE IS FRIGHTENING. NICK: BUT FOR THE MOST PART THIS COUPLE IS MORE CONCERNED ABOUT ITS PHYSICAL HEALTH THAN FINANCIAL. THAT’S BECAUSE THE PATE’S PLANNED FOR RETIREMENT BUT THOUSANDS MORE IN THE UNITED STATES HAVE NOT. WITH SO MUCH UNCERTAINTY AROUND THE ECONOMY AND STOCK MARKET, RETIREES AFRAID THEY HAVEN’T SAVED ENOUGH ARE PANICKING STEVE CONARD OF COMPASS FINANCIAL SERVICES SAYS THAT’S A LEGITIMATE CONCERN BUT REMINDS CLIENTS YOU HAVE MORE TIME THAN YOU THINK TO GET YOUR MONEY BACK. >> PEOPLE FEEL JUST BECAUSE THEY ARE RETIRED OR ARE ABOUT TO RETIRE THEY HAVE A SHORTENED TIMEFRAME. BUT IF YOU’RE PLANNING TO BE RETIRED FOR DECADES, YOU HAVE A LONG TIMEFRAME. YOU ARE PLANNING TO RETIRE, NOT DIE. NICK: AND KEEPING A CLEAR HEAD IS JUST AS IMPORTANT. >> USUALLY THAT HELPS GIVE YOU THE PROPER PERSPECTIVE ASK YOURSELF WHAT DO I NEED MY MONEY TO DO FOR ME TODAY. NICK: WE ARE STILL A FEW MONTHS AWAY FROM KNOWING THE TOLL THIS PANDEMIC TAKES ON OUR SAVING ACCOUNTS, BUT RIGHT NOW EVERYONE CAN THINK ABOUT THEIR SAVINGS HABITS. IT’S NEVER TOO EARLY OR LAT

COVID-19 Impact: How COVID-19 is affecting retirement investments


With stocks up and down the past few days, KCCI’s Nick Tabbert spoke to a financial adviser on the subject of retirement investments. Steve Conard, with Compass Financial Services, said not to panic because there is still time to recoup losses.

With stocks up and down the past few days, KCCI’s Nick Tabbert spoke to a financial adviser on the subject of retirement investments. Steve Conard, with Compass Financial Services, said not to panic because there is still time to recoup losses.

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