Investors are looking for more market turbulence in the yearto come, and to retirees that signals a threat to their short-termfinancial goals.

That’s according to the latest Wells Fargo/Gallup Investor andRetirement Optimism Index survey, which found that three quartersof investors see market turbulence ahead,including 16 percent who say it will be “highly volatile.”

Of those who anticipate market volatility, six in 10 investors(59 percent) are getting ready for it by talking with a financialadvisor (44 percent), buying stocks to take advantage of lowerprices (30 percent) and selling stocks to protect from furtherlosses (15 percent).

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While the optimism index gained just a hair in the fourthquarter from Q3, at +59 compared with +58, retiree optimism wasdown substantially, losing 23 points to +47. That was driven by aloss of confidence in retirees’ attaining their five-yearinvestment goals, as well as reduced confidence in economic growthand inflation.

At the same time, nonretiree optimism gained 10 points to +63,thanks to improved confidence around employment.

This marks the first time in more than a year that nonretiredinvestors are significantly more optimistic about the investmentclimate than retirees.

Respondents in the survey, asked if the Federal Reserve shouldraise interest rates in December or continue to wait, weighed inlargely on the side of “wait,” at 64 percent. Just a third said itwas time to increase rates.

Although a slight majority of investors (54 percent) said anincrease in interest rates wouldn’t make much of a difference totheir personal finances, nearly twice as many said it would be badfor them—at 29 percent—as those who said it would be good forthem—16 percent.

Investors have an even more negative attitude with regard to howhigher interest rates would affect the economy. Forty-eight percentsaid increased rates would be bad, while just 19 percent said itwould be a good thing. Only 30 percent said it wouldn’t make anydifference.