Meir Statman : Retirement Planning and Investing in Turbulent Times : Palmetto Business Daily
Meir Statman, Glenn Klimek Professor of Finance, weighed in on an article published in Palmetto Business Daily regarding retirement planning and investing during periods of economic turbulence. The piece warned against rash decision making in periods of political shift or other instability, which is especially relevant in this post-election pre-inauguration period of time.
An excerpt from the article:
Among investors who held 401(k) positions between 2009, when the market hit bottom after the financial crisis, and 2014, the median account balance returned 137 percent, Vanguard said in an article in Time magazine.
Those 401(k) investors continue to buy when prices are lower, benefiting hugely when the market recovers.
“It’s a real advantage not to have to make a conscious decision to buy when the market is tanking,” behavioral finance expert Meir Statman at Santa Clara University told Time.
Read the full article here»
Learn more about Professor Meir Statman here »