Ignoring These 6 Financial Moves Could Ruin Your Retirement

4. Create a Long-Term Financial Plan

Speaking of meeting with a financial planner, you can rely on these professionals to help you create a long-term financial plan. With a solid plan in place, you won’t have to stress over market fluctuations that would normally leave you stressing out.

“We are all emotional creatures,” said financial planner Don Roork of AssetDynamics Wealth Management.

It’s natural to panic when the market drops, or to feel a surge of happiness and excitement when one of your investments increases in value. In retirement, however, you don’t need all that drama. What you really need is a long-term plan that will leave you protected regardless of volatility in the market.

“The next time the market falls and you’re convinced that ‘this time is different’ and ‘the financial world is positively collapsing’ and ‘I’m going to lose all my money,’ don’t react emotionally and yank all the money out of your well-managed portfolio and move into cash,” said Roork.

Leave it to your adviser to worry about your portfolio—that’s their job, after all.

“Financial advisers don’t have a crystal ball of omniscience into your financial future, but they can skillfully help you evaluate the economic and financial market circumstances, and help you avoid emotion-driven investment thinking and actions that will ruin your retirement,” said Roork.