Bear markets can feel overwhelming, especially when you’re close to or already in retirement. It’s natural to feel uncertain—but panic doesn’t have to be part of the process.
This checklist is designed to help you take a deep breath, review your retirement plan through a steady lens, and make thoughtful decisions grounded in strategy—not fear.
Step 1: Revisit Your Retirement Income Plan
Do you have clear buckets for your short-, mid-, and long-term goals?
If not, this is the time to establish:
- “Needs”bucket (money needed in 1–2 years; should be in cash)
- “Wants”bucket (money meant for 3–7 years out)
- “Wishes” bucket (investments earmarked for long-term growth)
Is your income for the next 12–24 months secure and not dependent on the stock market?
Have you reviewed your Social Security and/or pension strategy?
Step 2: Reassess Your Risk Tolerance & Asset Allocation
Has your ability to tolerate risk changed since the market dropped?
It’s okay to feel differently now—your plan should reflect how you feel, not just what you planned years ago.
Are you diversified across asset classes and sectors?
Diversification doesn’t eliminate risk—but it helps reduce unnecessary exposure.
Have you rebalanced your portfolio recently?
Step 3: Focus on What You Can Control
Are your expenses still aligned with your budget and goals?
Review your spending plan to ensure it matches your new reality—without compromising what brings you joy.
Are you continuing to fund your retirement accounts and savings?
Market dips can be a great time to contribute and benefit from long-term recovery.
Step 4: Reconfirm the Foundation of Your Plan
Do you have a current estate plan (will, POA, healthcare directives)?
Make sure everything is up-to-date and reflects your wishes.
Have you reviewed your insurance coverage?
Long-term care, life, and umbrella insurance are important layers of protection—especially during economic downturns.
Is your emergency fund sufficient?
9-12 months of living expenses should be easily accessible and not invested in the market.
Step 5: Lean into Your Advisor Relationship
Have you scheduled a check-in or retirement strategy session?
Now is a great time to realign your goals, revisit assumptions, and get clarity. Schedule time to talk and review your plan.
Final Thoughts
Market downturns are unsettling—but they are also temporary. Your retirement isn’t built on a single quarter or a headline—it’s built on a thoughtful, adaptable plan.
Give Glass Financial a call to make sure your retirement plan is as resilient as you are.
All investing involves risk, including the possible loss of principal. There is no assurance that any investment strategy will be successful. A diversified portfolio does not assure a profit or protect against loss in a declining market. Rebalancing may be a taxable event. Before you take any specific action be sure to consult with your tax professional. The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure that you are insurable by having the policy approved. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges. In addition, if a policy is surrendered prematurely, there may be surrender charges and income tax implications.