Retirement savings and investment took center stage at the 2021 fall conference as SAEA Board President and Secretary presented on this important topic to aid in the professional advancement and financial well-being of SAEA members. A key objective for SAEA is the economic stability and prosperity of its active members and affiliates as a pre-requisite to projecting a positive impact on the community and the development of Syria.
Showing how the value of one million dollars in savings has changed over time, the speakers illustrated how inflation and market fluctuations impacted the amount. Market experts suggest that you can withdraw 4% of your retirement portfolio’s gains during the first year of retirement and then adjust for inflation.
Market experts also suggest that if you are younger, you should have more stocks than bonds, because stocks are more volatile but have a higher earning potential over time. However, as you get older, your portfolio should become more conservative and less risky for your security in retirement.
SAEA board recommended that members begin investing for retirement as early and as often as possible to benefit from compound interest and to discuss specifics with their financial advisor. It’s good to be conservative when projecting finances for retirement due to uncertainties.