What to do with retirement accounts if you are close to retiring

What to do with retirement accounts if you are close to retiring
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RICHMOND, Va. (WWBT) - If you have a retirement account- we tell you over and over now is not the time to panic, and that this is a long-term goal. But what about our viewers who are very close to retirement? Those-- watching the wild swings in the market with uncertainty?

It’s ok to feel anxious about what you are seeing.

Cherry Dale with the Virginia Credit Union says your first step is to call your financial adviser.

She says because you are so close to needing that nest egg your money is likely in very low-risk accounts by now, but you also want to double-check that.

She also says it’s ok to stop contributing for a while and pick something with less risk-- in the savings venue.

“So, banks call them CD’s and credit unions call them savings certificates or money market accounts as well," Dale said.

If you feel unsure, the best advice really-- is to call a financial planner or coach so they can evaluate your individual situation. It’s ok to check in on your accounts and to ask for help.

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