Alert
Close

Help Decide the Future of Aging. Join the White House’s Live Stream From Cleveland Monday. Learn more

Highlights

Open
Renew for 3 and attend Life at 50+ for free

Contests and
Sweeps

You Could Choose Your Dream Vacation!

Hawaii, the Grand Canyon or an Alaskan Cruise! No purchase necessary. Ends May 31. See official rules.


Driver Safety

Piggy bank on the road - AARP Driver Safety

Take the new AARP Smart Driver Course!

You Could Choose Your Dream Vacation
Happy African American couple

AARP Books

Visit the Money Section

Enjoy titles on retirement, Social Security, and becoming debt-free.

Jobs You Might Like

most popular
articles

Viewed

What Is Happening to My Money?

Like it or not, your 401(k)'s health is tied to a turbulent world at large

Whew! So we're not going to have another recession at all?

Unfortunately, we don't know. The Federal Reserve has said it plans to keep interest rates near zero for another two years, but that doesn't add much oomph to the economy. It doesn't help either that Americans have turned suddenly pessimistic about the economy. Lack of confidence can be a self-fulfilling prophecy.

Goldman Sachs now puts the odds of recession at one in three. Economist Nouriel Roubini, famous for having seen the 2008 crash coming, pegs it as greater than 50 percent. Then again, he's known for being pessimistic.

What can I do about it?

Every financial adviser with any perspective will tell you to stick to your long-term investment plan. As Schwab's chief economist Liz Ann Sonders puts it, "Panic is not a strategy." A well constructed plan will have allowed for moments like this and made sure you had enough cash on hand without having to sell at fire sale prices.

If you feel you have to do something — anything! — to keep from going crazy, then read the AARP Bulletin's "7 Things to Do When the Market Slumps," for inspiration.

Eric Schurenberg is the financial editor at large for AARP the Magazine and a former managing editor of Money magazine.

Topic Alerts

You can get weekly email alerts on the topics below. Just click “Follow.”

Manage Alerts

Processing

Please wait...

progress bar, please wait

Tell Us WhatYou Think

Please leave your comment below.

Advertisement

The Cheap Life

Jeff Yeager Cheap Life Ultimate Cheapskate AARP YouTube web series save money

Catch the latest episode of The Cheap Life starring Jeff Yeager, AARP's Ultimate Cheapskate. Watch

Discounts & Benefits

From companies that meet the high standards of service and quality set by AARP.

Credit safeguards with AARP® Identity Theft Protection from TrustedID®.

AARP Credit card from Chase

Members can get cash back rewards on purchases with the AARP® Credit Card from Chase.

Man using cell phone outdoors

Members save on monthly service & usage fees and get free activation with Consumer Cellular.

Member Benefits

Join or renew today! AARP members receive exclusive member benefits & affect social change.

Advertisement

Advance your skills. Transform your career.

Explore your learning possibilities.