3/6/2015 – As You Near Retirement, Capitalize on Market Opportunities (U.S. News & World Report)

At the end of 2014, there was a steady stream of reporting around the strength of the U.S. economy: the Dow Jones industrial average and Standard & Poor’s 500 index reached new highs in the fourth quarter of 2014, the Nasdaq Composite index hit its best point since the 1990s technology bubble and the U.S. Bureau of Labor Statistics’ December 2014 job report showed this past year was the strongest for job growth since 1999.

Moving into the first quarter of 2015 however, investors were seeing a significant amount of volatility, due to corporate earnings, unsteady oil prices and changing market landscapes overseas, in Europe and the Middle East. Although that volatility has subsided in recent weeks, the rapid increase in activity and volatility in early 2015 may cause Americans, especially those nearing retirement, to be hesitant to invest, since they have flashbacks to losses incurred during the Great Recession.

However, a defensive posture can come at its own cost. Preretirees are at risk of missing opportunities to potentially grow their portfolios and bolster their retirement savings by playing it too safe. A 2014 Voya Financial study found that nearly half (48 percent) of workers consider themselves to be moderately or very conservative investors. Given this information, here are three tips to consider if you are nearing retirement, to help you take a smart approach to growing your nest egg.

Read the full article at U.S. News & World Report.