{"id":949,"date":"2021-03-15T07:35:00","date_gmt":"2021-03-15T13:35:00","guid":{"rendered":"https:\/\/www.bellvest.ca\/ryan-carrier\/resources\/should-i-sell-if-im-retiring-soon\/"},"modified":"2025-09-24T13:35:06","modified_gmt":"2025-09-24T19:35:06","slug":"should-i-sell-if-im-retiring-soon","status":"publish","type":"resources","link":"https:\/\/www.bellvest.ca\/ryan-carrier\/resources\/should-i-sell-if-im-retiring-soon\/","title":{"rendered":"COVID-19, the Stock Market, and Retirement Planning \u2014 Should I Sell if I&#8217;m Retiring Soon?"},"content":{"rendered":"<p style=\"font-weight: normal;\">During the early months of the pandemic, the North American stock markets dropped\u00a0<a style=\"font-weight: normal;\" href=\"https:\/\/www2.deloitte.com\/ca\/en\/pages\/financial-services\/articles\/covid19-financial-planning-retirement-shutdown.html\" target=\"_blank\" rel=\"noopener\">more than 30 percent<\/a><span style=\"font-weight: normal;\">\u00a0<\/span>from their record highs in 2019.\u00a0While stocks have rebounded since then, there is still plenty of uncertainty. But what does this mean for those nearing retirement?<br \/><!--more--><\/p>\n<h3 style=\"font-weight: bold; font-size: 26px;\">COVID-19 and retirement planning \u2014 What you should know<\/h3>\n<p style=\"font-size: 8px;\">\u00a0<\/p>\n<p>The current economic climate is far from predictable, but that doesn\u2019t mean you should worry about your future if you\u2019re nearing retirement age. There are always risks with stock investing. What we\u2019re seeing right now is a period of higher-than-normal uncertainty because the pandemic is a large event impacting all industries all over the world.<\/p>\n<p style=\"font-size: 4px;\">\u00a0<\/p>\n<p>Rather than being a cause of panic and a surefire reason to sell, COVID-19 \u2014or any other event that causes disruption\u2014is a time to revisit your financial plan.<\/p>\n<p style=\"font-size: 4px;\">\u00a0<\/p>\n<p>Here are some factors worth considering when assessing where you are right now, and where you want to be, financially in the next few years:<\/p>\n<p style=\"font-size: 4px;\">\u00a0<\/p>\n<ul>\n<li>\n<p><em><span style=\"font-weight: normal;\">Look at ways to rebalance your portfolio.<\/span><\/em> After the strong stock performance of 2019, if you were like many investors, you may have been overly exposed to equity risk. 2021 may be a time to identify how you can rebalance to ensure your portfolio is aligned with your risk appetite.<\/p>\n<\/li>\n<li>\n<p><em><span style=\"font-weight: normal;\">Did your financial situation change during the pandemic?<\/span><\/em> From job changes to deciding to retire early, you may have different needs and goals than you did a year ago. Is your retirement plan designed to support your current goals? How can you readjust your asset allocation to better suit your goals?<\/p>\n<\/li>\n<li>\n<p><em><span style=\"font-weight: normal;\">Will you need to access the money in your portfolio in the next couple of years<\/span><\/em>, or can you comfortably wait until North America experiences a sustained recovery?<\/p>\n<\/li>\n<li>\n<p>If you have decided to retire, <span style=\"font-weight: normal;\"><em>have you developed a tax-efficient withdrawal plan<\/em><\/span> between your RRSPs, TFSAs, and taxable accounts? If done correctly, this can help your retirement savings last longer and potentially reduce the taxes your estate will pay to CRA.<\/p>\n<p>\u00a0<\/p>\n<\/li>\n<\/ul>\n<h3 style=\"font-size: 28px;\">How do I prepare for retirement in times of uncertainty?<\/h3>\n<div>\n<div>\n<div>\n<div>\n<div>\n<div>\n<div id=\"gac-project-data\">\n<p style=\"font-size: 8px;\">\u00a0<\/p>\n<p>Focus on you. The decisions you make should be based on your risk tolerance, financial situation, and current retirement goals \u2014 not on what\u2019s going on in the stock markets, nor on how dire the news cycle appears.<\/p>\n<p style=\"font-size: 4px;\">\u00a0<\/p>\n<p>The world has been shaken by the pandemic. But, that doesn\u2019t mean we don\u2019t have a bright future ahead.\u00a0<a href=\"https:\/\/www.bellvest.ca\/contact-us\/\" target=\"_blank\" rel=\"noopener\">Get in touch<\/a> \u2014 we&#8217;ll help you make sound financial decisions for your retirement.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<h4 style=\"line-height: 2.5;\">Are you on track to meet your financial goals?<\/h4>\n<p><a href=\"https:\/\/www.bellvest.ca\/contact-us\/\" rel=\"noopener\">Contact us today <\/a>and let&#8217;s set up a time to talk.<\/p>\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n","protected":false},"featured_media":2147,"template":"","resources-categories":[24],"resources-type":[7],"class_list":["post-949","resources","type-resources","status-publish","has-post-thumbnail","hentry","resources-categories-retirement-planning","resources-type-blog-post"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.4 (Yoast SEO v28.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>COVID-19, the Stock Market, and Retirement Planning \u2014 Should I Sell if I&#039;m Retiring Soon? - Ryan Carrier Family Wealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bellvest.ca\/ryan-carrier\/resources\/should-i-sell-if-im-retiring-soon\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"COVID-19, the Stock Market, and Retirement Planning \u2014 Should I Sell if I&#039;m Retiring Soon?\" \/>\n<meta property=\"og:description\" content=\"During the early months of the pandemic, the North American stock markets dropped\u00a0more than 30 percent\u00a0from their record highs in 2019.\u00a0While stocks have rebounded since then, there is still plenty of uncertainty. 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