Edward Jones: Retirees Should Stay Course Despite Stock Swings

Retirees and investors close to retirement should not make dramatic changes in their accounts due to the recent market volatility, said Scott Thoma, Retirement Strategist for Edward Jones. Thoma recommended people hold at least a year worth of cash in an account to prevent the need to prematurely sell stocks to pay expenses. He added that diversification remains important and investors should continue to hold corporate and municipal bonds despite the recent drop in yields. Finally, Thoma suggested delaying social security payments in order to have that added income stream later when it may be more needed.