How do I prepare for the "what ifs" of investing for retirement?

 A young couple reviews financial information on their laptop, with notebooks spread out in front of them.

It's been said that "The only constant in life is change." But don't let unexpected events stop you from achieving your financial goals, like retirement. Your Edward Jones financial advisor will work with you to "stress test" your strategy and build in ways to help ensure your strategy stays on track.

Think about:

Preparing for emergencies

It's always good to have a cushion. And an emergency fund can provide just that if something unexpected happens — like a large home repair or having to cover expenses in the event you lose your job. Your emergency fund may include savings and chequing accounts, money market funds or GICs.

If you're still working, we think it's a good idea to have three to six months’ worth of living expenses in emergency cash.  You should also consider maintaining access to a line of credit, which can supplement emergency cash if you need it.

The role of insurance

Providing for your family's future is all about developing a proactive strategy to help ensure they have the financial resources they need if something were to happen to you. Insurance is designed to help address these risks by protecting what is too expensive to replace, like your ability to earn an income. Life and disability insurance are options to consider to help protect against some of life's "what ifs."

How much insurance you may need depends on your specific situation. Talk with your Edward Jones financial advisor about what makes sense for you and your family.

Your reactions to market volatility

The stock market will have its ups and downs. But how you react to these swings usually has more of an impact on reaching your financial goals than the decline itself.

We can help

Putting a strategy in place with your Edward Jones financial advisor can help you stay on track, no matter what the market does in the short term. Using these common risks as a starting point, you can work together to put a proactive strategy in place to prepare for unexpected events.

Important information:

Insurance and annuities are offered by Edward Jones Insurance Agency (except in Québec). In Québec, insurance and annuities are offered by Edward Jones Insurance Agency (Québec) Inc.