For investors over the age of 50, volatile markets can have a detrimental impact on future financial stability with less time to recover and typically more at stake than younger investors. This makes the Russian invasion of Ukraine an especially tricky time for older investors. MarketWatch recently turned to Terry Sawchuk, founder and chairman of Sawchuk Wealth, to learn about things aging investors need to know about the Ukraine crisis.
One important thing investors over 50 should prepare for during this turbulent time is a potential recession. Sawchuk believes that a recession is increasingly likely, noting forward-looking economic indicators, such as industrial measures like sales of petrochemicals, have been falling for months. He also tells the publication that he thinks there may be as much as a 30% downside to the market from its current point.
Despite the growing possibility of a significant downturn, it is crucial for older investors to remain calm, don’t do anything rash to their portfolios and speak with an experienced wealth advisor.
Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.
Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.