Turbulent stock market spooks some older workers, retirees

By

National News

November 19, 2018 - 10:44 AM

CHICAGO (AP) — The recent turbulence in the U.S. stock markets is spooking some older workers and retirees, a group that was hit particularly hard during the most recent financial crisis.

There’s no indication, though, that the recent volatility has brought about large-scale overhauls in retirement planning.

“There’s a lot of fear that if you have another event like 2008 and you retire the year before or the year after, you’re screwed. I’m not taking that risk,” says Mark Patterson, a recently retired patent attorney from Nashville, Tennessee. “There’s a huge fear of folks my age that they’re going to run out of money and they’re going to need to rely on the government for help.”

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