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Reply to "What do people do when a serious downturn happens 5 years or so before retirement?"
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[quote=Anonymous]If you planned sensibly, you have little to worry about. An intelligent asset allocation will have limited your portfolio's volatility, and you won't have committed to a level of expenditures beyond your resources. Your budget should be elastic enough to allow for a reduced level of spending in the initial years of your retirement if necessary. In the worst case, you may need to work longer, or retire to part-time employment to have an income stream to supplement the income you planned for from your pension, Social Security, annuity, deferred compensation, portfolio income, or whatever other resources you were planning to tap into to fund your retirement all along. This discussion may be helpful: https://www.investopedia.com/terms/s/sequence-risk.asp[/quote]
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