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The stock market has been volatile. But view it as an opportunity, Mitchell financial expert says

“When the market is volatile like this, this is the worst time to jump off the rollercoaster. People who have 40 years until they are at retirement would totally mess up a plan by jumping off the rollercoaster when it’s down 20 to 25%,” Investment advisor Ryan Boyd said.

Retirement planning can never start too early, some financial advisors say.
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MITCHELL — With the sluggish economy and volatility of the stock market, making moves to help build retirement funds can seem like a risky gamble.

But some financial experts say “now is the time” to make smart investments in the stock market to build retirement savings, substantially.

Despite the recession and stock market dipping down to bear market territory in recent months, Ryan Boyd, an investment advisor at Boyd Financial Services in Mitchell, is urging people “not to get jumpy” with their investments in the market.

“When the market is volatile like this, this is the worst time to jump off the rollercoaster. People who have 40 years until they are at retirement would totally mess up a plan by jumping off the rollercoaster when it’s down 20 to 25%,” Boyd said. “Everyone gets so excited when the market is going way up, but those are some of the worst times to invest more.”

Boyd views the latest big dip in the market as a “discount” for investors, including first-time market investors, to tap in and see gains when the market rebounds. For Boyd, it’s not a matter of if the market will rebound, it’s a question of when.


Thinking with a long-term and big picture mindset is something Boyd said helps alleviate worries of the market rebounding. After all, looking at the past 11 years before the pandemic shook the global economy and sent U.S. stocks plunging in 2020, Boyd noted the market was on a decade-long bull run.

That’s why he’s suggesting workers who are beginning to make retirement planning a priority to get in the market now while it’s hovering down around 20 to 25%.

“If you have some funds available to put in the market right now, take advantage of where the market is at. Re-evaluate what’s important on your spending outside of retirement savings and investing,” Boyd said. “We’re going to come out of it. It’s still a good market. It’s just we’ve corrected to a point where we should probably be, naturally.”

Boyd pointed to the low unemployment rate and “very good” price to earnings ratios as great indicators the market will rebound.

Among the key tips Boyd recommends to pave the way for a smooth retirement is creating what he calls a “repeatable strategy.” To adopt a repeatable strategy, Boyd suggested turning to financial and investment advisors who study the market on a daily basis and “take the emotion out” of money management to save for retirement.

“Say I am going to save 10% of my income. Have it automatically come out of your checking account as a line item, because otherwise you’ll spend it if you don’t,” he said. “People almost always manage their money with emotions. It’s our job not to, and build your retirement with strategic investing.”

While workers approaching retirement age can count on having Social Security benefits to pad their post-retirement life, there is uncertainty the benefits will be there for people under the age of 50. Social security is guaranteed to be funded up until 2035, Business Insider reports say. The average age of retirement in America is 66, as of 2022, according to a recent Gallup poll.

Boyd says it should be everyone’s goal to plan and save for a retirement that doesn’t rely on any Social Security benefits. Although some lower income earners who began building their retirement later in life may have to bank on Social Security being available when they hit 62 – the minimum age one can begin receiving Social Security benefits – Boyd is still confident that the benefits will be there in some fashion.


“We will always have a labor market to have some form of Social Security. I know there are talks that may say otherwise, but I am confident in that. My strategy is to not be reliant on it, which eliminates the worry of what could happen to it,” he said.

Sam Fosness joined the Mitchell Republic in May 2018. He was raised in Mitchell, S.D., and graduated from Mitchell High School. He continued his education at the University of South Dakota in Vermillion, where he graduated in 2020 with a bachelor’s degree in journalism and a minor in English. During his time in college, Fosness worked as a news and sports reporter for The Volante newspaper.
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