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Life insurance can serve many valuable purposes. However, later in life — when your children have grown, you’ve retired, or you’ve paid off your mortgage — you may no longer think you need to keep your coverage, or perhaps your coverage has become too expensive. You might be tempted to abandon the policy or surrender your life insurance coverage, but there are other alternatives to consider.

If you worry about your retirement investments during market downturns, you’re not alone. Unfortunately, emotions are often the enemy of sound investing. Here are some points to help you stay clear-headed during periods of market volatility.

In late September 2022, the U.S. dollar hit a 20-year high in an index that measures its value against six major currencies: the euro, the Japanese yen, the British pound, the Canadian dollar, the Swedish krona, and the Swiss franc. At the same time, a broader inflation-adjusted index that captures a basket of 26 foreign currencies reached its highest level since 1985. Both indexes eased slightly but remained near their highs in October.^1–2

Inflation, roller-coaster markets, global events, and life circumstances can test anyone’s fortitude. You may not feel ready to handle these pressure-filled times and might worry about the potential effects on your financial well-being. Fortunately, you can take steps to build the resilience to help handle the turbulence and hopefully emerge even stronger.

The CHIPS and Science Act of 2022, signed into law on August 9, is bipartisan legislation that provides more than $50 billion in direct financial assistance for companies to increase U.S.-based semiconductor design, research, and manufacturing capabilities. In addition, the legislation authorizes nearly $170 billion in federal funding over five years for research and development (R&D) programs in strategic areas of science and technology, such as artificial intelligence, quantum computing, wireless communications, clean energy, and precision agriculture.