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Retirement savings: How to hedge for unexpected shocks in the market
Retirement savings: How to hedge for unexpected shocks in the market

As the Federal Reserve's stance on rate cuts remains uncertain, investors are evaluating the potential impact on their retirement portfolios. Chief Retirement Strategist at J.P. Morgan Asset Management Michael Conrath, joins Yahoo Finance Live to discuss why individuals need to "get started now" on their retirement savings. Conrath emphasizes that "the biggest thing is to have a plan," noting that more people plan for vacations than retirement. He advises that the first step is to consider how much you will need. Secondly, he recommends thinking about "longevity" and factoring in the projected duration of your retirement. Conrath highlights "key things" available in 2024 that can aid in retirement planning. Firstly, he emphasizes the importance of emergency savings accounts, calling emergency savings "the bedrock" to protect your retirement. Secondly, he notes that those making student loan payments may be eligible to receive retirement contribution matches from their employers. About Yahoo Finance: Yahoo Finance provides free stock ticker data, up-to-date news, portfolio management resources, comprehensive market data, advanced tools, and more information to help you manage your financial life. - Get the latest news and data at finance.yahoo.com - Download the Yahoo Finance app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO) - Follow Yahoo Finance on social: X: http://twitter.com/YahooFinance Instagram: https://www.instagram.com/yahoofinance/?hl=en TikTok: https://www.tiktok.com/@yahoofinance?lang=en Facebook: https://www.facebook.com/yahoofinance/ LinkedIn: https://www.linkedin.com/company/yahoo-finance