Retiring in a down market can mean two-thirds less money for rest of your life: AIG Retirement CEO



  • Retiring at the right or wrong time in the stock market can be a "game changer" for Americans in their golden years, AIG Retirement CEO Jana Greer says.
  • Greer cited an AIG study that showed 79 percent of investors are concerned about a stock market decline.
  • The best way to fight off retirement anxiety is to develop other sources of protected lifetime income in addition to savings, she says.


Tyler Clifford
Published Fri, 26 Oct 2018

Withdrawing money from savings for retirement during a down stock market can be a "game changer" for Americans in their golden years, American International Group Retirement CEO Jana Greer told CNBC.

Greer cited a study that compared two people retiring just two years apart; the first one in a market downtown and the second in an upturn. She said the impact can be "huge."
Fifteen years later, if you look back, "that person who retired and took withdraws during that early period can have two-thirds less" for the rest of their lives, Greer said on "Squawk Box."
Greer also talked about the results of another study, conducted by AIG in January, saying 79 percent of investors are concerned about a stock market decline, with good reason.
The stock market hit records in late January but plunged shortly thereafter. It took until the summer to eclipse those all-time highs. But earlier this month, the market came under severe pressure on fears of rising interest rates. Trading has been highly volatile ever since.

https://www.cnbc.com/2018/10/26/reti...your-life.html



But then same media gurus also often say that you cannot time the markets and "do not try to pick tops or bottoms".