When FOMO Meets Your Retirement Savings

You’ve spent decades saving for retirement. Then everyone starts talking about a stock you don’t own, and suddenly your own progress doesn’t feel like enough.

In this episode of Wall Street to Main Street, Tom Hamilton talks about the fear of missing out and how it can push even cautious investors toward risks they hadn’t planned to take.

Here are three questions to ask before chasing the next hot investment:

1. Has your plan changed, or just your expectations?
Seeing other investors make money can make you question a portfolio that still fits your needs. Before increasing risk, consider whether your goals, income needs, or financial circumstances have actually changed.

2. What would a major loss mean in dollars?
A 50% decline turns $1 million into $500,000 and requires a 100% gain to recover. If you’re approaching retirement or already drawing income, think about what that loss would mean for your spending and timeline.

3. Are you counting on getting out at the right time?
“I’ll sell before it gets bad” is easier to say than execute. Tom discusses why past reactions to market declines may tell you more about your risk tolerance than how confident you feel during a rally.

Tom also examines how debt-funded acquisitions of advisory firms could affect fees and client service, before wrapping up with his Buffalo Bills outlook.

Listen to the full episode for Tom’s perspective on keeping investment decisions tied to your retirement goals.