A recession is a common, if unpleasant, part of life. People who are retiring now have endured around six of them across a four-decade professional career.
Since the 1850s, there has only been one decade without at least one recession: the 2010s. That means you’ll likely have to deal with at least one or two periods of economic turmoil in your golden years.
“The reality is you can expect to have 25 to 30 years for retirement, so you’re going to go through these different economic cycles,” says Robert Gilliland, a Houston-based certified managing director and senior wealth advisor at Concenture Wealth. “You have to plan for all of those as best you can.”