Chesapeake Bank
Login
Open An Account
  • Personal
    • Banking
      • Checking
      • Savings
      • CDs & IRAs
      • Deposit Rates
      • Switch to Chesapeake Bank
      • myCard
      • Order Checks
      • Overdraft Services
      • Safe Deposit Box
    • Lending
      • Home Loans
      • Personal Loans
      • Loan Payments
      • Mortgage Rates
    • Digital
      • Mobile Banking
      • Online Banking
      • Mobile Payments
      • ATM
      • Personal Financial Management
    • Tools & More
      • Order Checks
      • Rewards
      • 24 Hour Banking
      • Calculators
      • ID Theft Protection
      • Lost / Stolen Debit Card
      • Customer Testimonials
      • Financial Education
  • Business
    • Banking
      • Checking
      • myCard
      • Mobile Banking
      • Beneficial Ownership
    • Cash Management
      • Online Banking
      • Remote Deposit Capture
      • ACH
      • Wire Transfers
      • Re$ubmitIt
      • Payroll
    • Lending
      • Commercial Real Estate
      • Commercial Loan
      • Commercial Line of Credit
      • Accounts Receivables Financing
      • Credit Cards
    • Payments
      • Credit & Debit Card Processing
      • Bill Pay
      • Loan Payments
    • Advice
      • Our Team
      • Business Articles
      • CPS
      • Cash Flow
  • Wealth Management
    • Investment & Wealth Management
    • Trust & Estate Services
    • Our Team
    • Resources
  • Merchant Services
    • Equipment
    • Point of Sale
    • Gateways
    • Add-ons
    • Partner Program
    • Technical Support
    • Testimonials
Open An Account Login
  • Personal
    • Banking
      • Checking
      • Savings
      • CDs & IRAs
      • Deposit Rates
      • Switch to Chesapeake Bank
      • myCard
      • Order Checks
      • Overdraft Services
      • Safe Deposit Box
    • Lending
      • Home Loans
      • Personal Loans
      • Loan Payments
      • Mortgage Rates
    • Digital
      • Mobile Banking
      • Online Banking
      • Mobile Payments
      • ATM
      • Personal Financial Management
    • Tools & More
      • Order Checks
      • Rewards
      • 24 Hour Banking
      • Calculators
      • ID Theft Protection
      • Lost / Stolen Debit Card
      • Customer Testimonials
      • Financial Education
  • Business
    • Banking
      • Checking
      • myCard
      • Mobile Banking
      • Beneficial Ownership
    • Cash Management
      • Online Banking
      • Remote Deposit Capture
      • ACH
      • Wire Transfers
      • Re$ubmitIt
      • Payroll
    • Lending
      • Commercial Real Estate
      • Commercial Loan
      • Commercial Line of Credit
      • Accounts Receivables Financing
      • Credit Cards
    • Payments
      • Credit & Debit Card Processing
      • Bill Pay
      • Loan Payments
    • Advice
      • Our Team
      • Business Articles
      • CPS
      • Cash Flow
  • Wealth Management
    • Investment & Wealth Management
    • Trust & Estate Services
    • Our Team
    • Resources
  • Merchant Services
    • Equipment
    • Point of Sale
    • Gateways
    • Add-ons
    • Partner Program
    • Technical Support
    • Testimonials
  • Find Us
  • About Us
    • Careers
    • History
    • Board of Directors
    • Our Team
    • Contact Us
    • Investor Relations
    • In The News
  • Community
    • Events Calendar
    • Blog
    • The Buck Stays Here
    • Newsletter
  • Contact Us
  • Find Us
  • About Us
    • Careers
    • History
    • Board of Directors
    • Our Team
    • Contact Us
    • Investor Relations
    • In The News
  • Community
    • Events Calendar
    • Blog
    • The Buck Stays Here
    • Newsletter
  • Contact Us
  1. Home
  2. It's All About Community
  3. Chesapeake Bank Blog
  4. Ask Chesapeake Wealth Management: Retirement FAQs
Chesapeake Wealth Management Advisor Steve Cornwell
Chesapeake Wealth Management

Ask Chesapeake Wealth Management: Retirement FAQs

March 02, 2018
Chesapeake Wealth Management

Chesapeake Wealth Management Advisor Steve Cornwell answers your most commonly asked retirement and investment questions.

How often should I review my retirement plan? 

Reviewing your plan helps ensure your current choices align with your investment objectives, time frame, risk tolerance, and market conditions. Review your plan when you receive quarterly statements, but remember, retirement is a long-term plan so don’t worry yourself by checking in frequently.

Are there “red flags” that indicate it’s time to make changes?

Changing jobs could be a great opportunity to consolidate accounts for simplicity and efficiency (rolling over 401Ks to existing IRAs*). Life events like births, marriage or divorce are other instances when reevaluating your current choices is in order. Before you make any major adjustments, it’s important to consult a qualified wealth manager for advice.

How should I react to market fluctuations?

Monitoring performance is important, but I would caution clients to not make rash decisions based on short-term fluctuations. Because of the long-term nature of retirement plans, the volatility one may experience in the day-to-day market is typically a blip in the overall accumulation of retirement wealth.

Is it ever important to not make changes to your retirement plan?

Yes, it can be advantageous to not make changes to your plan based on market volatility or “noise” in the current environment. If your selections in your retirement are solid (i.e. a diversified portfolio spread out among many different asset classes**), downturns in the market should be looked at as an opportunity, not a time to panic.

Think of the market as “going on sale,” and if contributions continue on a bi-weekly or monthly basis, you’ll be buying more shares of your retirement plan choices at a bargain***. And who doesn’t appreciate a bargain?

To learn how the CWM team can help you achieve your financial and estate planning goals, contact Chesapeake Wealth Management.


*Available could also include leaving the 401(k) alone, rolling over into another employer-sponsored plan, cashing out.
**Diversification is a method of controlling risk. It does not assure a profit or the avoidance of loss.
***Dollar cost averaging does not assure a profit or the avoidance of loss. Investors should consider their ability to continue a dollar cost averaging program in declining markets.

Securities offered through INFINEX INVESTMENTS, INC. Member FINRA/SIPC. Chesapeake Wealth Management is a subsidiary of Chesapeake Financial Shares. Infinex is not affiliated with either entity. - Not a deposit - Not FDIC Insured - Not insured by any federal government agency - Not guaranteed by the bank - May go down in value

Related Posts


Garfield Rescue: A Tail of Community February 05, 2021
Garfield Rescue: A Tail of Community
Reggie Rossignol
Applications are open for the Ben D. Conley Foundation March 25, 2020
Applications are open for the Ben D. Conley Foundation
Reggie Rossignol
    • Categories

      Posts by Topic

      • Business (72)
      • It's All About Community (64)
      • Personal Finance (56)
      • Employees (41)
      • CFS News (38)
      • Middle Peninsula (23)
      • Northern Neck (23)
      • Richmond (19)
      • Chesapeake Payment Systems (16)
      • Williamsburg (16)
      • Home Buying (11)
      • Cash Flow (9)
      • Chesapeake Wealth Management (9)
      • Fraud & Security (9)
      • Customer Testimonials (8)
      • COVID-19 (6)
      • Chesterfield (3)
      see all
    • Authors
      • Ches Bank
      • Chesapeake Wealth Management
      • Eric Pesola
      • Guest Author
      • Jeff Szyperski
      • Paula Milsted
      • Reggie Rossignol

    Subscribe to our Newsletter


    Subscribe

    Follow us on social media


    Twitter Facebook LinkedIn YouTube Instagram

    Join our newsletter Subscribe
    Twitter Facebook LinkedIn YouTube Instagram
    New ChesBank
    • About Us
      • Careers
      • History
      • Board of Directors
      • Our Team
      • Contact Us
      • Investor Relations
      • In The News
    • Tools
      • Help Center
      • Check Rates
      • Order Checks
      • Calculators
      • ID Theft Protection
      • Lost / Stolen Debit Card
      • Pay a Loan
      • Fraud & Security Resources

    Join Us

    See why Chesapeake Bank is one of the greatest places to work.

    Chesapeake Careers

    Contact Us

    icon Main Office:
    97 North Main Street
    PO Box 1419
    Kilmarnock, Virginia 22482

    iconCall: 800-434-1181

    iconText (NEW): 877-436-9032

    iconEmail: info@chesbank.com

    Fdic
    Equal Housing Lender
    Routing #
    051403779
    NMLS #
    625537
    ©2021 Chesapeake Bank. All rights reserved.
    • CB Privacy Notice
    • CWM Privacy Notice
    • Security Statement
    • Website Accessibility