Stockmarket volatility has had the world transfixed in recent days and weeks. We have seen massive daily losses and huge daily gains that have terrified all but those with the very strongest constitutions.
Such unusual times bring massive challenges for clients with retirement planning portfolios looking to find the right time to buy their pension annuities.
The good news is that for those with some time to go before they retire their investments will have a chance to recover, assuming stockmarkets around the world pick up from where they are. Those people much closer to retiring will have to try to alleviate the damage done. One thing is for certain – there has never been such a strong need for good quality financial advice and the investment guidance given now will have far reaching effects on clients’ financial well being in retirement.
Stockmarket volatility and uncertainty will be with us for some time yet. There are sure to be many interesting developments with banks and banks’ shares, and the like, as well as interest rates. There will be challenges and there will also be opportunities for advisers to really add value to their clients retirement planning.
Proper planning in the run up to retirement could result in a far larger pension pot to buy that annuity.
