Big volatility returned to Wall Street today. The Dow Jones Industrial Average was down just over 400 points. Bend financial advisor Bill Valentine says if you are in your 30's, 40's or 50's, and have long term goals, today’s action will probably soon be a faint memory. But for retirees who are forced to take income out of their retirement accounts; short-term volatility can have a long term impact. "Truly volatility comes out in the wash if you have a long enough time horizon. If you're taking money out of your accounts, which most retirees are doing, what happens is because the amount you need doesn't change. If your assets are diminished, it can really impair your ability to come back. “ Today the market is taking a big hit because of more signs that a global recession could be just around the corner.