Top 3 Pandemic Concerns for Retirees

 Quarantine

Sounds scary, right? It doesn’t have to be. Sure, the thought of running out of food would send anyone into a panic, but if you have enough supplies for the next 3 weeks, you should fare the storm. Though you may not be eating the usual gourmet, try whipping up creations with what you have on-hand. Many retirees have found themselves at a disadvantage since grocery stores are out of supplies, but there may be a solution! Some retailers such as Walmart, ShopRite, Wegmans, and Whole Foods offer grocery pick-up and delivery. Don’t forget to stock up on self-care supplies such as medications, shampoo, conditioner, lotion, etc.

2. Retirement Accounts Dropping

The current market volatility is frightening. Watching your retirement funds swing rapidly like a pendulum is not ideal but considering the current situation, it’s expected. As China can attest, things will get better. Instead of waiting and wondering how your account will perform, consider speaking with a financial professional about your concerns. RGA offers free virtual sessions to discuss your concerns, review your current position, and consider ways to implement a market recovery strategy if needed from the safety and comfort of your home.

3. Bills

We all have them, and many are wondering how they’ll pay them over the next few weeks. Business owners and employees are feeling the hit between shutdowns and layoffs. Now is the time to re-prioritize your expenses and adjust your budget. In the meantime, keep an eye out for potential government relief in the upcoming weeks.

During all this, you may be wondering how to stay sane. Being stuck in your home for weeks sounds like a dream to some and a nightmare to others. No matter how much of a homebody you are, after a while, it can affect your sanity. Instead of going stir-crazy, try implementing some normalcy of your daily life at home. Do you exercise often? Try an at-home workout on YouTube or go for a jog in your neighborhood. Can’t be without a good book? Give e-books and audio-books a try. Enjoy investing and keeping up with the market? Consider speaking with a financial professional about your portfolio, what risks COVID-19 and the bear market pose, and what you can do to recover. Running out of ideas? Keep an eye out for emails from RGA for not only market updates and financial articles, but fun at-home activities, recipes, and more!

At market close today, March 24, 2020, Dow Jones, S&P 500, and NASDAQ all saw increases. The Dow jumped by 10.38% with a 1929.39 point increase, while the S&P 500 surged by 8.77% with a 196.15 point increase, and the NASDAQ rose by 7.54% with a 517.58 point increase.

As always, if you would like clarity on how the current market is affecting you, an in-depth market recovery strategy session, or just someone to talk to through this concerning time, click the button below to schedule a time to virtually chat.

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