Global Head of LifePath for BlackRock Nick Nefouse shares his insight on mitigating life risks when saving for retirement.
He said that it’s crucial for investors to start saving early to maximize their retirement income, and to recognize how market risks impact investors differently as they age.
“If you do that, then you increase different levels of risk, so we have to balance risk out over a lifetime.”Nefouse added that investors need to understand that there are risks beyond volatility in markets, particularly when it comes to young investors just starting out.
“A lot of times we think of risk as only market risk, but the risk for a young investor isn’t really market risk, it’s not saving early enough or not saving enough,” he said.
“We can make little steps every day to walk 10,000 steps or to work out… or to eat well; we have to look at retirement the same way.
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