SAN DIEGO (KGTV) -- Like most people who’ve worked decades towards retirement, Danielle Schulte has some ideas on how she’ll spend it.
"Initially I’m going to sleep in late, read the newspaper, yes, I still read paper!”
Schulte is an Employee Relation Specialist for UC San Diego and hopes to retire in about six years.
While she's been saving since graduating college, Schulte wishes she'd saved more, especially watching the market plunge in recent days.
“Because I am getting close to retirement, I don’t have as much comfort in giving it time to even out,” said Schulte.
She hired a financial advisor 13 years ago and continues to fine-tune her plan, currently looking into annuities.
"He has been really good in helping me not to panic, helping me invest my money in stable securities as best you can, given the market," said Schulte.
Dennis Brewster is a financial advisor for SagePoint Financial. He too says it's not the time to panic.
“Right now we’re down about 10 percent, that’s normal, it’s just that we haven’t had anything for so long, I think that's what makes it a little tougher, we haven’t had any declines," said Brewster. "We’ve been spoiled a little bit the last few years, on average [the decline] is usually 14 percent a year.”
However, Brewster says those looking to retire soon need to pay attention and plan ahead with their 401(k).
"The last thing you want to do is get too aggressive going into retirement, so somebody getting closer to retirement should be concerned, they don't want to get too extreme but do want to be a little more careful because you don't have 30 years to make it up."
Schulte remains confident in the groundwork she’s laid on her retirement plan and is hopeful she can turn off the alarm clock for good in six years.