A short video by Craig Wear, CFP® warning investors—particularly those near or in retirement—about pitfalls that follow a very strong market year (stocks up ~30%). The speaker previews a three-part series focused on three common mistakes retirees should avoid when markets have recently run up.
You know, the stock market is up nearly 30% last year, and it was. So it's a huge year for investors. But years like this bring their own set of challenges, especially for those that maybe have got a million or more staved away, whether it's in your IRAs or your other accounts, because the numbers are much bigger and it seems to matter a lot more. The reason that this matters right now is we're just coming off of a really strong market. And when when you have strong market years, emotions run really high. Hidden fees are often easy to go unnoticed, and there's a temptation to kind of chase performance. And that happens just subtly, and it just kind of creeps into the way you think and the way you make decisions. So if you're almost retired or you're already drawing from your ira, avoiding these three mistakes I'm going to go through over the next three series really becomes even more critical.
