Here is a link to the a recent article in the Baltimore Sun where I discuss how the recent market downturn has affected people’s retirements.
http://www.baltimoresun.com/business/columnists/bal-bz.ambrose06jan06,0,3108163.column
Many people who recently retired or are rapidly approaching retirement feel that the recent market downturn will prevent them from retiring in the manner they dreamed and desire. What I have found is the market decline has impacted folks’ net worth, but in most cases it hasn’t derailed the retirement plans. The key is to run the numbers so you can see exactly where you stand. By running the numbers, you will know your situation. It will remove any doubts. If the projection shows that the downturn indeed affected your retirement success, then at least you will know what you need to do to get back on track. But, you may just find you are still ok. Either way, knowing your actual position is empowering. Not knowing leads to fear and frustration, which often leads to panic. And decisions made in panic are never good.