Retire With Money: A Stock Market Tumble Breaks the Calm

The stock market on Wednesday suffered its worst decline since September, with the Dow Jones Industrial Average falling 1.8%. Blame the latest political turmoil in Washington--White House scandals have weighed on stocks in the past as well. Still, Wednesday’s drop wasn’t so bad and at the end of the day the Dow remained up 12% since Donald Trump’s election in November. While few market sectors seem like bargains these days, recognize that you could also crimp your retirement lifestyle by being too pessimistic about stocks. Take that one-day drop as a wake-up call: Double-check that you have enough in stocks for long-term growth but not so much that you’ll panic and bail out the next time markets get ugly.

Best wishes,

Karen

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THIS WEEK’S RETIREMENT NEWS, INSIGHTS AND ADVICE

4 Things You Need to Know About Moving After You Retire

If you’ve been thinking about where you might want to relocate in retirement, make sure you also give enough thought to when. As writer Elizabeth O’Brien explains, it really matters at what point in life you take the plunge and pack up. These four questions can help you fine-tune your timing. Money

If I Could Change My Career at 60, So Can You

A film-industry executive turned career coach details her 5-step plan to change careers after age 50. Wendy Braitman writes that one of the toughest things after she lost her job was overcoming feelings of shame and telling people she was unemployed. But “when I peeled myself off the couch to start making the rounds,” she says, “I was relieved at how many others had experienced job loss and were eager to lend a hand.” NEXT AVENUE

Forget Income Replacement, Focus on Supplying Cash-Flow Needs

Early in your career, as you start roughing out what you’ll need for retirement, a rule of thumb like aiming to replace 70% or 85% of your work income can be handy. But as retirement gets closer, that’s far too crude a guide, writes Morningstar director of personal finance Christine Benz. She lays out a 5-step approach to tally how many dollars it will take in annual spending to maintain your lifestyle once you quit work. MORNINGSTAR

Retirees Are Too Pessimistic on Their Investments—And It's Costing Them

A new study finds that older investors are more pessimistic about stock-market returns than younger investors—more so than they need to be—and as a result may be short-changing their retirement lifestyles by investing too conservatively. Every year between 2001 and 2014 those ages 65 and older, on average, said the stock market had a less than even chance of rising over the next 12 months. That’s not how it played out! Contributor Dan Kadlec details just how far off their predictions were. Money

How to Become a Coach or Consultant After You Retire

Becoming a consultant to your former employer in retirement can involve a tricky downgrade in your status and authority at the office. But becoming a consultant to your company or others can also be a great way to transition into retirement or shape an encore career with flexibility, interesting challenges, and, sometimes, rich pay. Dorie Clark, a marketing strategist and professional speaker, has tips on making it happen. HARVARD BUSINESS REVIEW

17 Essential Money Tips for Married Couples

Writer Kerri Anne Renzulli has assembled a list of pointers for newlyweds, and we don’t just mean millennials. She’s got advice, as well, for couples tying the knot when they’re 50 or older. Becoming a duo later in life calls for revisiting your retirement timetable, and also checking out how to get the biggest combined benefit from Social Security. Money

Women Get a Bigger Social Security Bump

The Social Security retirement age is increasing from 66 to 67, which translates into lower benefits at whatever age you claim. That makes it more important than ever to look for ways to boost your benefit. One option that is particularly powerful for women is to work additional years. It’s a bigger deal for them than for men, on average, because women are more likely to have taken career breaks that leave them short of the 35 years of earnings used in Social Security’s math. SQUARED AWAY BLOG

Trump Just Delivered Another Blow to Retirement Savers

The president signed into law a measure that will make it harder for workers without 401(k) plans to save for retirement. His signature raised the hurdles for states looking to help companies without 401(k)s offer auto-IRA programs to their workers. Still, officials in Oregon and California said they would continue with their efforts. Money

Senior Discounts Aren’t Just for Seniors Anymore

A “senior”? Who me? If you’re in your fifties, that’s surely the last term you’d pick to describe yourself. But as young as 50, you may qualify for a variety of senior discounts. And now there are apps that can help you find them. The $7.99 Sciddy app uses your phone’s GPS to alert you to nearby discounts. THE NEW YORK TIMES