Eight in ten small business owners expect a recession this year, according to a CNBC survey. Here’s how to prepare your portfolio.
You need to pay attention to when you're selling assets and taking withdrawals, as it may cause long-term harm to your portfolio."That is how you fall prey to the negative sequence of returns, which will eat your retirement alive," Watson said.
Of course, the exact amount needed may depend on monthly expenses and other sources of income, such as Social Security or a pension. National Bureau of Economic Research Cash reserves are also important for investors in the"accumulation phase," with a longer timeline before retirement, said Catherine Valega, a CFP and wealth consultant at Green Bee Advisory in Winchester, Massachusetts.
"I do tend to be more conservative than many because I have seen three to six months in emergency expenses, and I don't think that's enough."
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