US - Experts have warned the baby boomer generation to "plan not panic".
Janken pointed out that withdrawing funds for retirement living at the beginning of a downward cycle in the market could cause irreparable damage to a retirement portfolio.
Janken said: "They have good reason to be concerned. A decline in the stock market at the beginning of retirement has a major impact on their retirement funds."
Janken said market conditions created an uncertain factor for retirees, who otherwise could control the two other most important elements of a retirement plan, allocation of assets and the amount of money they spend.
"Quite naturally, lack of control over the market further aggravates a basic fear haunting most retirees," he said. "It comes in the form of a question I hear often from clients: 'Will I have enough money to live on?'."
He said clients should keep a healthy percentage of retirement funds liquid to ride out the fluctuations in the market.
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Royal Bank of Scotland (RBS) faces a £102m impact on liabilities as a result of equalising guaranteed minimum pensions (GMPs), according to its annual results.
Malcolm Mclean says getting the channels of communication right and engaging more openly is a good starting point