Why Jane shouldn’t cash out on stock crash fears Mar 12th

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Why Jane shouldn’t cash out on stock crash fearsiStock
Q. I retired in 2008, just in time for the market crash. Fortunately, I did not need my invested money right away. But now, 10 years later, I have begun taking money out for living expenses—just in time for the February downturn. I sat tight the first time and things gradually got better, but I can’t now. What should I do?  
– Jane
A. First off, Jane, you deserve a lot of credit for the discipline you showed in 2008. A lot of new retirees panicked during that devastating crisis. It was hard to blame them, but anyone who sold their investments paid dearly by locking in their losses and missing the swift recovery that followed. You’re probably in good shape now because you stuck to your long-term investment plan.
Now that you’re getting ready to draw down your portfolio, however, I worry that you may not have the right plan for this stage of your life. You’re correct that you don’t have the option of stopping your withdrawals during a downturn. But with a good plan, you won’t have to…

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