Retirement stocks have dropped and financial advisers offer tips to those that are worried

Retirement funds have been taking a hit lately, and that has some retirees and those thinking about making that move concerned

COLUMBUS, Miss. (WCBI)- Investing in stocks is never a guarantee. Sometimes that can be a hard lesson. Retirement funds have been taking a hit lately, and that has some retirees and those thinking about making that move concerned.

When some people think of retirement they think of that money they’ve set aside for their relaxing years; however when the market takes a hit and folks aren’t getting the money they thought, then it raises some concerns.

For those looking to retire and get those benefits, now may not be the best time.

“It’s been a little bit of a bumpy year. We’ve seen the market the last couple of year go straight upwards and that’s fun and exciting, but this year we’ve seen the market go the other way it’s gone down and dipped slightly but that’s normal,” said CEO of Financial Concepts Scott Ferguson.

Ferguson said it’s not uncommon that the stocks have gone down. It’s the way the market works, sometimes the climb is not a straight line.

For those looking to dip into those retirement funds he said to make sure to have a plan.

“That’s a very scary time but the important thing to do is to make sure you have a plan you know when you went into retirement with your income what was the plan? Did you take into the account that the market was going to go up and down? If your plan took that into account then you don’t have to do anything,” said Ferguson.

Some people’s retirement stocks have dropped drastically, but what does the expert encourage?

“Staying invested and letting the market go up and down on it’s way up gives you the ability to hopefully recoup those dipped dollars that you saw and go on to gain more over time,” said Ferguson.

There can be an upside if you’ve been putting off getting into the market, now could be the perfect time.

“Things are costing less to buy so if you wanted to buy stock in a company, odds are that stock is declined in value so you can buy that stock at a lower cost. You buy it at a lower cost so when it goes back up in value you’ll pay less for it and own more of it,” said Ferguson.

Ferguson encourages people to invest in their retirement and to stay calm. Markets usually correct themselves, so resist the urge to pull your money ahead of time or all at once.