Who Sold Their Stock?
Did you know that nearly a third of investors above the age of 65 sold their stocks between the months of February and May?
This statistic comes at no surprise considering the percentage of retirement income invested in the stock market. The months between February and May marked the end of a 10+ year long bull market and the stock markets were driven by fear of the unknown.
Below is a graph that shows the share of individual investors who sold all of their equity holdings.
It is important to have a strategy and a financial plan that can endure market downturns and provide you with peace of mind.
Markets have rallied significantly since many of these investors went to cash. If you found yourself among the 1/3 of investors over age 60 that sold their equity holdings in February through May, you may need to re-evaluate your plan. The recent market downturn has caused many to re-evaluate.
At Covenant Wealth Strategies we work with our clients to build plans that can endure market cycles.
If you have any specific questions, we welcome you to call us at 302.234.5655 or email us at contactus@covenantwealthstrategies.com to set up a mutually convenient date/time to speak.