How to Reassess Your Retirement Goals after COVID-19

Helpful Tips from Trusted Jackson, MS Financial Consultants

No one could have predicted the course the world would take on January 1, 2020. At that time, a virus was making its way across the globe, and soon it would hit the United States. People lost their jobs, their health, and their retirement accounts lost a lot of value. For many, it seemed like everything was doom and gloom; however, a virus does not have to take over every aspect of your life. Instead, with a well-thought-out plan, you can readjust your retirement and financial goals and come out better after the pandemic subsides.

Make your own future when you establish a road map with the help of a financial consultant from the Executive Planning Group in Jackson, MS. We offer many different investment vehicles to help you get to where you want to be. Look to us for individual and group benefits that can make life more comfortable and give you peace of mind.

4 Suggestions to Keep Your Retirement Priorities in Line

Don’t let this virus stop you from reaching your retirement and financial goals. Instead, determine to take hold of what you have and change course as necessary. Start here:

  1. Reassess your basic needs, including your emergency fund. Depending on where you are in your career, your needs will fluctuate. You may have children, which makes downsizing an unreasonable option for cutting expenses. You may be at the tail end of a rewarding career and have fewer needs. Either way, you should consider what it would take to pay for the necessities if you lose your job or your business takes some hits. An emergency fund will be a huge relief to you instead of increasing your debt load and thwarting retirement and other plans.
  2. Review your financial goals. It is a good idea to regularly review your plans to see if you are still on track. The pandemic forced many of us to realize that we should be prepared to iterate or tweak our plans. Retirement may be more of a moving target as the markets try to rebound from this unprecedented time. Your goals may have also changed. Take time to revisit what you hope to accomplish, and then discuss them with a financial consultant.
  3. Develop a solid plan for retiring in a post-COVID economy. As the economy runs the course set before it from the effects of COVID, it may seem reasonable to wait to make plans. In reality, solid plans can withstand most anything. Additionally, proper planning keeps you from making impulsive decisions out of fear or other emotions. If you do not have anything established, do it now.
  4. Stay focused on the end goal. If the year 2020 has taught us anything, it is that change will happen in the blink of an eye. Having a plan in place and staying focused on your end goal will help you weather the storm that life brings. It is easier to make slight corrections than it is to overhaul an entire financial map. Remember that sometimes it is harder to stay the course than it is to take great leaps into the unknown.

Team Up with a Proactive Financial Consultant in Jackson, MS

Look for a proactive partner in establishing a plan for your future. The team at EPG serves a wide range of executives, small businesses, and individuals with their financial and retirement planning, life insurance, and other financial products. Let us help you regroup and prepare for what lies ahead. Request a quote online.

Call us at 601-982-3000 to discuss your specific financial and retirement planning needs in Jackson, Mississippi.

Disclaimer: Securities offered through Valmark Securities, Inc. Member FINRASIPC. Investment advisory services offered through Valmark Advisers, Inc., an SEC-registered investment advisor. Executive Planning Group is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.

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