My Retirement Savings Are Shrinking. Should I Worry?

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In this episode of the Money Talks podcast, we’re tackling a real-life retirement situation, one you’ve likely experienced yourself: You open your 401(k) or other investment statement, and there it is — a shrinking balance.

Maybe it’s because the stock market has fallen. Or interest rates have risen, and your bond fund is losing ground.

Either way, what happens when you feel like you’re losing a huge chunk of your nest egg? What can you do? Should you just sit there? Move things around? Sell everything?

Let’s find out.

Host Stacy Johnson is joined by financial journalist Miranda Marquit. Listening in and sometimes contributing is producer Aaron Freeman. This episode also includes Pam Krueger, CEO of Wealthramp, along with financial adviser David Frisch of Frisch Financial Group.

Remember, this isn’t financial advice. So make sure to do your own research and consult your own experts before acting on anything you learn here.

You can watch this episode below, or if you’d prefer to listen, you can do that with the player at the top of this article or download the episode wherever you get your podcasts:

• Listen on Apple Podcasts
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• Listen on Spotify

This podcast is sponsored by Tellus, the first savings app designed for homebuyers by real estate experts. With Tellus, your savings earn more in one day than up to three weeks in a traditional bank savings account. What’s more, there is no stock or crypto exposure, no fees and you can withdraw anytime. Click the link in the show notes and use the code MONEYTALK to get a 5.50% APY for seven days with a $125 minimum deposit.

What portfolio strategies are available to you?

During this episode, the crew discusses a specific situation: A couple in their 60s are in a 70/30 portfolio. Now they feel they’ve lost a big chunk of their nest egg, thanks to recent market drops. Their confidence is shaken. Is it too late to catch up, and how will they catch up?

We’ve talked about portfolio strategy and investment in the past, so if you’re interested in learning more about how to choose investments, here are some good resources.

• What’s the Best Asset Allocation for My Portfolio?
• The Best Asset Allocation at Different Ages
• How Excess Cash Can Hinder Your Portfolio — Even in Retirement
• 4 Tax-Deductible Investments for Your Portfolio
• The 60/40 Investment Mix Is Dead – or Is It?
• Your Guide to Alternative Investments
• If You Come Into Some Money, What Should You Do Next?
• 28 Investing Tips From Today’s Financial Geniuses
• How to Invest When Both Stocks and Bonds Are Falling
• Retirement, Real Estate and I Bonds: We Answer Your Questions

How to make the most of your retirement

Don’t let panic overtake you and ruin your retirement. There are plenty of ways to plan, invest and prepare for retirement. Here are some of our best resources on getting ready for retirement, whether it’s decades away or in just a few years.

• How to Retire at Any Age Using Your Retirement Number
• 11 Retirement Milestones Everyone Should Know
• 6 Money Moves You Must Make in Your 50s and Beyond
• Pre-Retirement Checklist: What to Do Within 5 Years of Retiring
• Why Now Is a Great Time to Retire, Despite Inflation and Sinking Stocks
• The Pros and Cons of Dividend Stocks for Retirement Savings
• You’re Probably Underestimating How Much You’ll Make in Retirement
• 4 Tax Penalties That Can Ding Your Retirement Accounts
• 12 Things You Should Not Do in Retirement
• 5 Effortless Ways to Boost Your Retirement Savings

Meet this week’s guest, Pam Krueger

Pam Krueger is a recognized investor advocate and award-winning personal finance journalist and author. She is the founder and CEO of Wealthramp, an adviser matching platform that connects consumers with rigorously vetted and qualified fee-only financial advisers. It is the only adviser referral service that gives people full control over when and how they talk to their referred advisers.

Her perspectives on personal finance regularly appear in Marketwatch, Forbes, “PBS Next Avenue,” and she is a frequent speaker on fiduciary financial advice. In addition, Pam is an active volunteer member of the Retirement Income Committee at the Defined Contribution Institutional Investment Association (DCIIA), a nonprofit dedicated to enhancing the retirement security of America’s workers.

• Wealthramp
• Podcast: MoneyTrack
• Podcast: Friends Talk Money
• Twitter
• LinkedIn

Meet this week’s guest, David A. Frisch

David A. Frisch, CPA, CFP, PFS, is the founder and CEO of Frisch Financial Group. David has been widely recognized for his accomplishments as a financial expert. Forbes has repeatedly included him in their ranking of New York’s Best-in-State Wealth Advisors, and Long Island Business News selected him for their Executive Circle Award as well as their inaugural Banking and Finance Power List. In addition, David is frequently asked to contribute his financial expertise to a variety of media outlets.

David was educated at the State University of New York Binghamton School of Management. After earning his Bachelor of Science in Accounting, David’s professional career began at Arthur Andersen & Co., Inc.

David is father to triplets. On weekends, you can find him traveling the Northeast visiting his children at college or at home working on a DIY project alongside his wife and their Goldendoodle, Reese.

• Frisch Financial Group

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About the hosts

Stacy Johnson founded Money Talks News in 1991. He’s a CPA, and he has also earned licenses in stocks, commodities, options principal, mutual funds, life insurance, securities supervisor and real estate.

Miranda Marquit, MBA, is a financial expert, writer and speaker. She’s been covering personal finance and investing topics for almost 20 years. When not writing and podcasting, she enjoys travel, reading and the outdoors.