Workers who are on the cusp of retirement should avoid making big withdrawals while the markets head south. Falls not seen since the 2008 financial crisis may tempt people to take radical action in the rush to head off short-term losses.
Rushing to withdrawal funds when they’re at lower levels, compounds losses that could have easily be made up by staying invested and waiting for markets to rise.
As we wrote previously if investors are able to push on and hold their nerve through these turbulent times, it’s certainly worth doing so. Historically the British market has a habit of reacting strongly to events and then eventually correcting itself.
If you are considering your investment options and want to obtain independent financial advice, contact Mark Fryer at Fryer Glass on 01276 301103 or email [email protected]
FULL ARTICLE FROM THE DAILY TELEGRAPH: