Turbulent stock markets spooking older workers, retirees

CHICAGO (AP) — The recent turbulence in the U.S. stock markets is spooking some older workers and retirees, a group that was hit particularly hard during the most recent financial crisis.

There’s no indication, though, that the recent volatility has brought about large-scale overhauls in retirement planning.

A vice president at Allianz Life Insurance Co., Paul Kelash, says the market fluctuations are like a return to normalcy after what had been a steady upturn. He says he hasn’t seen much evidence of Americans drastically altering their retirement plans

A Bankrate survey says 62 percent of Americans — and 76 percent of those 65 and over — don’t believe their financial situation has improved in the two years since Donald Trump’s election. Nearly 1 in 5 say their finances have actually gotten worse.

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