Stock drop leaves retirees with important decisions

6 months 1 week 2 days ago Friday, February 09 2018 Feb 9, 2018 Friday, February 09, 2018 3:49:00 PM CST February 09, 2018 in News
By: Jalyn Johnson, KOMU 8 Reporter
loading

COLUMBIA - While some people have time to make up for the losses of investments in the market, people who are close to or already well into their retirement don't have the same luxury.

The S&P 500 is down more than 10 percent from the record high it hit in January.  Apple, Johnson & Johnson, and Texas Instruments are among the companies that took some of the biggest hits from the drop.

Retiree Ray Lansford, 97, of Columbia has been personally affected by the drop in market rates.

"I have probably lost seven to eight percent of my investments during the three weeks that we have been suffering our downturn," Ray Lansford said.

Lansford believes although the market is in a downturn, it's nothing the country has not seen before.

"We've gone through this three times in the last 30 years so we know the market is going to go up and down and we hope it will go up more than down," Ray Lansford said.

The owner of Clarity Financial in Columbia encourages his clients to always plan for a drop in stocks due to the unpredictability of the market.

"The most important thing is planning out the cash flows.  When someone gets to a retirement age, it's really important to put on paper so that you understand where your money is coming from every month," Tim Sullivan said.  "My rule of thumb, for anyone really who is investing in equities or stocks, is if you need that money within five years, you really shouldn't have it in the market.  For retirees, it's more like 10 years."

Lansford doesn't plan on pulling any of his investments out of the market and said he knows, based off of history, that the market will bounce back.

"I don't consider it a loss, I consider it a pause in what's going on. We will bounce back," Lansford said.

More News

Grid
List
JEFFERSON CITY - After several meetings regarding Jefferson City’s budget, the city’s budget committee held a public hearing Monday night.... More >>
2 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 7:55:00 PM CDT August 20, 2018 in News
COLUMBIA - MU's campus was more crowded Monday compared to recent years. Freshman enrollment has the highest increase in... More >>
4 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 6:39:00 PM CDT August 20, 2018 in News
LEBANON (AP) — A 31-year-old Missouri teacher was given a suspended sentence in a case of sexual conduct with a... More >>
4 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 5:59:00 PM CDT August 20, 2018 in News
COLUMBIA - Officers arrested two men in connection to a Monday shooting on Eastland Circle. Columbia Police officers responded... More >>
4 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 5:52:00 PM CDT August 20, 2018 in News
COLUMBIA – Matt Garrett has been named general manager of KOMU 8 and Mid-Missouri’s CW. He has served in the... More >>
5 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 5:03:17 PM CDT August 20, 2018 in News
FESTUS (AP) — A U.S. Army helicopter was forced by bad weather to make an emergency landing at a restaurant... More >>
5 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 4:56:00 PM CDT August 20, 2018 in News
COLUMBIA – After three weekends in a row of gunfire downtown, this past weekend was relatively quiet in comparison. Since... More >>
6 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 4:29:00 PM CDT August 20, 2018 in News
JEFFERSON CITY - A nurse who falsely claimed to provide health care services to Carl DeBrodie pleaded guilty to a... More >>
6 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 4:05:00 PM CDT August 20, 2018 in News
SPRINGFIELD (AP) — A judge has sentenced a man to life in prison for attempting to rape a Missouri State... More >>
6 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 3:49:53 PM CDT August 20, 2018 in News
SPRINGFIELD (AP) — A couple claims in a lawsuit that a former top lay official in the Springfield-Cape Girardeau Catholic... More >>
7 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 3:46:52 PM CDT August 20, 2018 in News
O'FALLON (AP) — Missouri Secretary of State Jay Ashcroft is investigating why a suburban St. Louis polling place opened 90... More >>
7 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 3:42:09 PM CDT August 20, 2018 in News
JEFFERSON CITY - In wake of the worsening drought conditions throughout Missouri, Governor Mike Parson announced in a press conference... More >>
7 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 3:14:00 PM CDT August 20, 2018 in News
COLUMBIA - City council members will give the public its first chance Monday night to comment on the budget for... More >>
8 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 1:58:00 PM CDT August 20, 2018 in News
COLUMBIA - An electrical fire at a Columbia shop caused about $10,000 in damages Sunday afternoon. The Columbia Fire... More >>
9 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 1:41:00 PM CDT August 20, 2018 in News
CAMDEN COUNTY - Four people took a golf cart for a joyride Saturday morning, according to the Camden County Sheriff's... More >>
9 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 1:12:00 PM CDT August 20, 2018 in News
COLUMBIA - University of Missouri police are crediting the public for helping them find the suspect in a sex offense... More >>
12 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 10:23:00 AM CDT August 20, 2018 in News
WASHINGTON (AP) — Conserving oil is no longer an economic imperative for the U.S., the Trump administration... More >>
12 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 10:20:55 AM CDT August 20, 2018 in News
KANSAS CITY, Mo. (AP) — Kansas City police are investigating three separate homicides over a 12-hour span. KMBC-TV reports... More >>
15 hours ago Monday, August 20 2018 Aug 20, 2018 Monday, August 20, 2018 7:42:00 AM CDT August 20, 2018 in News
Columbia, MO
Broken Clouds 68°
11pm 67°
12am 68°
1am 68°
2am 67°